Insider Buying: Texas Pacific Land Co. (NYSE:TPL) Director Purchases 9 Shares of Stock

Texas Pacific Land Co. (NYSE:TPL) Director Murray Stahl purchased 9 shares of Texas Pacific Land stock in a transaction that occurred on Wednesday, November 13th. The shares were bought at an average price of $1,402.75 per share, with a total value of $12,624.75. Following the transaction, the director now owns 644,798 shares in the company, valued at approximately $904,490,394.50. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Murray Stahl also recently made the following trade(s):

• On Monday, November 11th, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The shares were purchased at an average price of $1,379.23 per share, with a total value of $4,137.69.
• On Friday, November 8th, Murray Stahl bought 3 shares of Texas Pacific Land stock. The stock was purchased at an average price of $1,338.32 per share, for a total transaction of $4,014.96.
• On Wednesday, November 6th, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The shares were purchased at an average price of $1,319.93 per share, with a total value of $3,959.79.
• On Monday, November 4th, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The stock was purchased at an average price of $1,173.00 per share, for a total transaction of $3,519.00.
• On Friday, November 1st, Murray Stahl bought 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,174.00 per share, with a total value of $3,522.00.
• On Wednesday, October 30th, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The stock was acquired at an average cost of $1,116.91 per share, for a total transaction of $3,350.73.
• On Monday, October 28th, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The shares were acquired at an average cost of $1,075.78 per share, with a total value of $3,227.34.
• On Friday, October 25th, Murray Stahl bought 3 shares of Texas Pacific Land stock. The stock was acquired at an average cost of $1,099.70 per share, for a total transaction of $3,299.10.
• On Wednesday, October 23rd, Murray Stahl purchased 3 shares of Texas Pacific Land stock. The stock was bought at an average price of $1,085.56 per share, with a total value of $3,256.68.
• On Monday, October 21st, Murray Stahl acquired 3 shares of Texas Pacific Land stock. The shares were bought at an average price of $1,069.75 per share, for a total transaction of $3,209.25.

Texas Pacific Land Price Performance

Shares of NYSE TPL opened at $1,359.94 on Friday. The company has a market capitalization of $31.25 billion, a P/E ratio of 69.78 and a beta of 1.56. The company has a 50 day simple moving average of $1,049.39 and a 200-day simple moving average of $844.11. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,421.22.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.60 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.47%. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s payout ratio is currently 24.01%.

Hedge Funds Weigh In On Texas Pacific Land

Hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. lifted its position in Texas Pacific Land by 204.2% in the first quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after buying an additional 678 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in shares of Texas Pacific Land by 229.3% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after purchasing an additional 10,483 shares during the period. Russell Investments Group Ltd. increased its holdings in Texas Pacific Land by 174.6% in the 1st quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock valued at $6,802,000 after purchasing an additional 7,476 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in Texas Pacific Land by 56.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 14,497 shares of the financial services provider’s stock valued at $10,645,000 after purchasing an additional 5,255 shares during the period. Finally, Marietta Wealth Management LLC acquired a new position in Texas Pacific Land during the second quarter worth $2,926,000. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, BWS Financial reaffirmed a “buy” rating and issued a $917.00 target price on shares of Texas Pacific Land in a research note on Monday, August 12th.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.