Texas Pacific Land (NYSE:TPL) Hits New 12-Month High – What’s Next?

Texas Pacific Land Co. (NYSE:TPL) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $1,310.00 and last traded at $1,310.00, with a volume of 1493 shares. The stock had previously closed at $1,243.15.

Analysts Set New Price Targets

Separately, BWS Financial reissued a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Trading Up 3.0 %

The firm’s fifty day moving average is $982.98 and its 200 day moving average is $811.36. The stock has a market cap of $31.60 billion, a P/E ratio of 70.56 and a beta of 1.56.

Texas Pacific Land (NYSE:TPL) last posted 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 business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. Texas Pacific Land had a return on equity of 39.92% and a net margin of 65.34%. During the same period in the prior year, the firm posted $4.35 EPS.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $1.60 per share. The ex-dividend date is Monday, December 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. Texas Pacific Land’s payout ratio is 32.84%.

Hedge Funds Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land in the 3rd quarter worth $25,000. American National Bank acquired a new stake in Texas Pacific Land during the second quarter worth about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Texas Pacific Land during the second quarter valued at about $44,000. Compagnie Lombard Odier SCmA bought a new position in Texas Pacific Land during the third quarter valued at about $44,000. Finally, Quest Partners LLC acquired a new position in Texas Pacific Land in the 3rd quarter valued at approximately $50,000. 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.