Texas Pacific Land (NYSE:TPL) Reaches New 52-Week High at $856.66

Texas Pacific Land Co. (NYSE:TPL)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $856.66 and last traded at $856.66, with a volume of 30131 shares. The stock had previously closed at $829.93.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. BWS Financial reiterated a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Performance

The firm has a market cap of $19.74 billion, a PE ratio of 45.10 and a beta of 1.63. The firm’s 50-day moving average price is $789.31 and its two-hundred day moving average price is $646.66.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share for the quarter, missing the consensus estimate of $5.36 by ($0.38). The company had revenue of $172.33 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm posted $4.35 EPS. As a group, sell-side analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $1.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.54%. Texas Pacific Land’s dividend payout ratio is presently 24.88%.

Institutional Trading of Texas Pacific Land

Institutional investors and hedge funds have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. increased its stake in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after buying an additional 30 shares during the period. GAMMA Investing LLC increased 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 period. IFS Advisors LLC increased its stake 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 valued at $38,000 after buying an additional 44 shares during the period. American National Bank acquired a new position in Texas Pacific Land in the 2nd quarter valued at $42,000. Finally, Halpern Financial Inc. increased its stake in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after buying an additional 50 shares during the period. Hedge funds and other institutional investors own 59.94% of the company’s stock.

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.