Texas Pacific Land Co. Plans None Dividend of $10.00 (NYSE:TPL)

Texas Pacific Land Co. (NYSE:TPL) announced a None dividend on Thursday, June 13th, NASDAQ reports. Investors of record on Monday, July 1st will be paid a dividend of 10.00 per share by the financial services provider on Monday, July 15th. The ex-dividend date is Monday, July 1st.

Texas Pacific Land has increased its dividend payment by an average of 9.1% annually over the last three years. Texas Pacific Land has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $734.27 on Friday. The company has a market capitalization of $16.88 billion, a PE ratio of 39.04 and a beta of 1.59. Texas Pacific Land has a 1 year low of $429.56 and a 1 year high of $799.46. The business has a fifty day moving average price of $643.61 and a two-hundred day moving average price of $570.03.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.39. The company had revenue of $174.14 million during the quarter, compared to analyst estimates of $158.20 million. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. Sell-side analysts anticipate that Texas Pacific Land will post 21.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TPL shares. BWS Financial reaffirmed a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Tuesday, June 18th.

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.