Texas Pacific Land Trust (NYSE:TPL) insider Maurice Meyer III sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $854.13, for a total transaction of $854,130.00. Following the completion of the sale, the insider now owns 64,220 shares of the company’s stock, valued at approximately $54,852,228.60. The transaction was disclosed in a document filed with the SEC, which is available at this link.
TPL traded up $9.58 during midday trading on Monday, hitting $856.58. The company had a trading volume of 18,600 shares, compared to its average volume of 17,253. The stock has a market capitalization of $6.60 billion, a PE ratio of 45.51 and a beta of 1.18. Texas Pacific Land Trust has a twelve month low of $372.00 and a twelve month high of $874.00.
Institutional investors and hedge funds have recently bought and sold shares of the business. Progeny 3 Inc. acquired a new stake in Texas Pacific Land Trust in the 2nd quarter valued at about $139,000. Mount Yale Investment Advisors LLC acquired a new stake in Texas Pacific Land Trust in the 1st quarter valued at about $160,000. Oxbow Advisors LLC acquired a new stake in Texas Pacific Land Trust in the 1st quarter valued at about $202,000. Sigma Planning Corp acquired a new stake in Texas Pacific Land Trust in the 2nd quarter valued at about $221,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Texas Pacific Land Trust in the 1st quarter valued at about $240,000. Hedge funds and other institutional investors own 39.78% of the company’s stock.
Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.
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