The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Texas Pacific Land Corporation shares valued at $4,628 were purchased by STAHL MURRAY on Jun 21. At $1542.56 per share, STAHL MURRAY acquired 3 shares. The insider’s holdings grew to 1,723 shares worth approximately $2.51 million following the completion of this transaction.
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Also, STAHL MURRAY purchased 17 shares, netting a total of over 26,224 in proceeds. Following the buying of shares at $1542.56 each, the insider now holds 206,457 shares.
Before that, STAHL MURRAY had added 17 shares to its account. In a trade valued at $24,755, the Director bought Texas Pacific Land Corporation shares for $1456.18 each. Upon closing the transaction, the insider’s holdings increased to 17 shares, worth approximately $300.79 million.
As published in their initiating research note from Credit Suisse on September 29, 2021, Texas Pacific Land Corporation [TPL] has been an Underperform and the price target has been revised to $800. This represents a -82.13% premium over Wednesday’s closing price. Analysts at Stifel downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in early April. As of January 12, 2021, BWS Financial has initiated its “Buy” rating for TPL. Earlier on January 09, 2020, Stifel initiated its rating. Their recommendation was “a Buy” for TPL stock.
Analyzing TPL’s Price Performance
On Wednesday, Texas Pacific Land Corporation [NYSE: TPL] plunged -5.55% to $1457.02. The stock’s lowest price that day was $1,446.67, but it reached a high of $1,507.46 in the same session. During the last five days, there has been a drop of approximately -10.96%. Over the course of the year, Texas Pacific Land Corporation shares have jumped approximately 18.07%. Shares of the company reached a 52-week high of $1,756.00 on 06/07/22 and a 52-week low of $946.29 on 01/24/22. A 50-day SMA is recorded $1,470.18, while a 200-day SMA reached $1,293.28. Nevertheless, trading volume fell to 25832.0 shares from 32400.0 shares the previous day.
Support And Resistance Levels for Texas Pacific Land Corporation (TPL)
According to the 24-hour chart, there is a support level at 1,433.31, which, if violated, would cause prices to drop to 1,409.59. In the upper region, resistance lies at 1,494.10. The next price resistance is at 1,531.17. RSI (Relative Strength Index) is 43.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -140.63, which suggests the price will decrease in the coming days. Percent R is at 96.65%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Texas Pacific Land Corporation subject to short interest?
Stocks of Texas Pacific Land Corporation saw a sharp steep in short interest on Apr 28, 2022 dropping by 7950.0 shares to 0.22 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 0.23 million shares. A decline of -3.61% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 8.08 of the overall float, the days-to-cover ratio (short ratio) decline to 8.08.
Which companies own the most shares of Texas Pacific Land Corporation (TPL)?
According to Horizon Kinetics Asset Management filings, the company currently owns 1,517,483 shares, which is about 19.60% of the total TPL shares outstanding. The investor’s shares have appreciated by 981 from its previous 13-F filing of 1516502.0 shares. With the completion of the buy, The Vanguard Group, Inc.’s stake is now worth $972,789,856. BlackRock Fund Advisors acquire a 3.23% interest valued at $383.99 million while SSgA Funds Management, Inc. purchased a 22,265 stake. A total of -390 shares of Texas Pacific Land Corporation were bought by First Manhattan Co. during the quarter, and 0 were sold by SoftVest Advisors LLC. In its current portfolio, Geode Capital Management LLC holds 75,457 shares valued at $118.16 million.
In terms of Texas Pacific Land Corporation share price expectations, FactSet research, analysts set an average price target of $1522.33 in the next 12 months, down nearly -1.66% from the previous closing price of $1542.56. Analysts anticipate Texas Pacific Land Corporation stock to reach $2000.00 by 2022, with the lowest price target being $1050.00. In spite of this, 3 analysts ranked Texas Pacific Land Corporation stock as a Hold at the end of 2022.