Stock Price Trends

Texas Pacific Land Trust (TPL)

Texas Pacific Land Corporation is engaged in land and resource management, and water operations and services businesses. The company is headquartered in Dallas, Texas.

Stock Price Trends

Stock price trends estimated using linear regression.

Key facts

  • The primary trend is increasing.
  • The growth rate of the primary trend is 182.34% per annum.
  • TPL price at the close of September 6, 2024 was $798.51 and was inside the primary price channel.
  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 33.93% per annum.
  • TPL price at the close of September 6, 2024 was inside the secondary price channel.

Linear Regression Model

Model equation:
Yi = α + β × Xi + εi

Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)

Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)

where:

i - observation number
Yi - natural logarithm of TPL price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e


Primary Trend

Start date: January 16, 2024
End date: September 3, 2024

a = 1.5871

b = 0.0028

s = 0.0545

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0028) – 1
= 182.34%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0545) – 1
= 24.35%

January 16, 2024 calculations

Top border of price channel:

Exp(Y1,095)
= Exp(a + b × X1,095 + 2 × s)
= Exp(a + b × 1,590 + 2 × s)
= Exp(1.5871 + 0.0028 × 1,590 + 2 × 0.0545)
= Exp(6.2175)
= $501.45

Bottom border of price channel:

Exp(Y1,095)
= Exp(a + b × X1,095 – 2 × s)
= Exp(a + b × 1,590 – 2 × s)
= Exp(1.5871 + 0.0028 × 1,590 – 2 × 0.0545)
= Exp(5.9996)
= $403.27

September 3, 2024 calculations

Top border of price channel:

Exp(Y1,254)
= Exp(a + b × X1,254 + 2 × s)
= Exp(a + b × 1,821 + 2 × s)
= Exp(1.5871 + 0.0028 × 1,821 + 2 × 0.0545)
= Exp(6.8744)
= $967.18

Bottom border of price channel:

Exp(Y1,254)
= Exp(a + b × X1,254 – 2 × s)
= Exp(a + b × 1,821 – 2 × s)
= Exp(1.5871 + 0.0028 × 1,821 – 2 × 0.0545)
= Exp(6.6565)
= $777.82

Description

  • The primary trend is increasing.
  • The growth rate of the primary trend is 182.34% per annum.
  • TPL price at the close of September 6, 2024 was $798.51 and was inside the primary price channel.

Secondary Trend

Start date: July 10, 2024
End date: September 6, 2024

a = 5.2689

b = 0.0008

s = 0.0305

Annual growth rate:

Exp(365 × b) – 1
= Exp(365 × 0.0008) – 1
= 33.93%

Price channel spread:

Exp(4 × s) – 1
= Exp(4 × 0.0305) – 1
= 12.98%

July 10, 2024 calculations

Top border of price channel:

Exp(Y1,216)
= Exp(a + b × X1,216 + 2 × s)
= Exp(a + b × 1,766 + 2 × s)
= Exp(5.2689 + 0.0008 × 1,766 + 2 × 0.0305)
= Exp(6.7435)
= $848.50

Bottom border of price channel:

Exp(Y1,216)
= Exp(a + b × X1,216 – 2 × s)
= Exp(a + b × 1,766 – 2 × s)
= Exp(5.2689 + 0.0008 × 1,766 – 2 × 0.0305)
= Exp(6.6215)
= $751.05

September 6, 2024 calculations

Top border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(5.2689 + 0.0008 × 1,824 + 2 × 0.0305)
= Exp(6.7899)
= $888.82

Bottom border of price channel:

Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(5.2689 + 0.0008 × 1,824 – 2 × 0.0305)
= Exp(6.6679)
= $786.74

Description

  • The secondary trend is increasing.
  • The growth rate of the secondary trend is 33.93% per annum.
  • TPL price at the close of September 6, 2024 was inside the secondary price channel.