Texas Pacific Land (NYSE:TPL) Reaches New 12-Month High at $899.78
Texas Pacific Land (NYSE:TPL) reached a new 52-week high of $78, with a trading volume of 52,557 shares. Analysts have mixed opinions, with BWS Financial maintaining a "buy" rating and a price target of $80, while StockNews.com downgraded it to "hold." The company reported an EPS of $0.98, missing estimates, and declared a quarterly dividend of $0.17. Institutional investors hold 59.94% of the stock, reflecting significant interest in the company, which manages land and resources in Texas.
Texas Pacific Land Co. (NYSE:TPL - Get Free Report)'s stock price reached a new 52-week high on Wednesday . The stock traded as high as $899.78 and last traded at $899.78, with a volume of 52557 shares changing hands. The stock had previously closed at $873.51.
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Wall Street Analyst Weigh In
- Can Texas Pacific Land Corp. Continue its Meteoric Rise?
A number of analysts have recently issued reports on the stock. BWS Financial reissued a "buy" rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research note on Tuesday, June 18th.
View Our Latest Research Report on TPL
Texas Pacific Land Stock Performance
The company has a market capitalization of $20.27 billion, a PE ratio of 47.36 and a beta of 1.60. The stock has a 50 day moving average price of $818.68 and a two-hundred day moving average price of $690.36.
Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 EPS for the quarter, missing the consensus estimate of $5.36 by ($0.38). The business had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a return on equity of 41.29% and a net margin of 66.71%. During the same period in the prior year, the firm earned $4.35 earnings per share. Sell-side analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.
Texas Pacific Land Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a $1.17 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.53%. Texas Pacific Land's dividend payout ratio is currently 24.88%.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. raised its position in shares of Texas Pacific Land by 200.0% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC grew its stake in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock valued at $31,000 after buying an additional 41 shares during the last quarter. IFS Advisors LLC raised its holdings in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock worth $38,000 after acquiring an additional 44 shares during the period. American National Bank acquired a new position in Texas Pacific Land during the 2nd quarter worth $42,000. Finally, Halpern Financial Inc. boosted its holdings in Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock valued at $44,000 after acquiring an additional 50 shares during the period. 59.94% of the stock is owned by institutional investors.
About Texas Pacific Land
(Get Free Report)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.
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