Texas Pacific Land (NYSE:TPL) Hits New 12-Month High – Should You Buy?

Texas Pacific Land Co. (NYSE:TPL) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $1,769.14 and last traded at $1,754.95, with a volume of 76452 shares changing hands. The stock had previously closed at $1,730.00.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

The company has a market capitalization of $37.08 billion, a PE ratio of 82.57 and a beta of 1.56. The business has a 50-day moving average of $1,120.26 and a 200 day moving average of $881.05.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $1.60 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. 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 0.40%. Texas Pacific Land’s dividend payout ratio is presently 32.84%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. This trade represents a 26.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 114 shares of company stock valued at $120,929 in the last three months. Corporate insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPL. Signaturefd LLC increased its position in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares during the period. Glenmede Trust Co. NA raised its stake in Texas Pacific Land by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 441 shares of the financial services provider’s stock worth $390,000 after buying an additional 13 shares in the last quarter. First Financial Bankshares Inc lifted its holdings in Texas Pacific Land by 2.2% during the third quarter. First Financial Bankshares Inc now owns 754 shares of the financial services provider’s stock worth $667,000 after buying an additional 16 shares during the period. BOKF NA lifted its holdings in Texas Pacific Land by 1.1% during the second quarter. BOKF NA now owns 1,571 shares of the financial services provider’s stock worth $1,154,000 after buying an additional 17 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Texas Pacific Land by 2.9% during the 2nd quarter. CIBC Asset Management Inc now owns 756 shares of the financial services provider’s stock valued at $555,000 after acquiring an additional 21 shares in the last quarter. Institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Company Profile

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.