Texas Pacific Land Co. (NYSE:TPL) Director Murray Stahl Acquires 9 Shares

Texas Pacific Land Co. (NYSE:TPL) Director Murray Stahl bought 9 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was bought at an average cost of $1,402.75 per share, for a total transaction of $12,624.75. Following the purchase, the director now directly owns 644,798 shares of the company’s stock, valued at approximately $904,490,394.50. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

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

Texas Pacific Land Stock Down 0.5 %

Shares of NYSE:TPL traded down $6.53 during midday trading on Friday, hitting $1,354.67. The stock had a trading volume of 13,682 shares, compared to its average volume of 103,391. The company has a market capitalization of $31.13 billion, a P/E ratio of 69.84 and a beta of 1.56. The company’s 50-day moving average price is $1,038.16 and its 200-day moving average price is $838.85. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,421.22.

Texas Pacific Land Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $1.60 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.01%.

Hedge Funds Weigh In On Texas Pacific Land

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock worth $1,099,867,000 after acquiring an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after purchasing an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in shares of Texas Pacific Land in the second quarter valued at approximately $131,014,000. Charles Schwab Investment Management Inc. raised its holdings in Texas Pacific Land by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 136,418 shares of the financial services provider’s stock valued at $120,694,000 after buying an additional 1,984 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after buying an additional 9,878 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

Wall Street Analyst Weigh In

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

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.