Texas Pacific Land Co. (NYSE:TPL - Free Report) - Equities research analysts at BWS Financial upped their Q1 2024 earnings per share estimates for Texas Pacific Land in a research report issued to clients and investors on Tuesday, April 2nd. BWS Financial analyst H. Khorsand now expects that the financial services provider will post earnings of $4.82 per share for the quarter, up from their prior estimate of $4.28. BWS Financial currently has a "Buy" rating and a $917.00 price target on the stock. The consensus estimate for Texas Pacific Land's current full-year earnings is $19.53 per share. BWS Financial also issued estimates for Texas Pacific Land's Q2 2024 earnings at $5.35 EPS, Q3 2024 earnings at $5.69 EPS, Q4 2024 earnings at $5.15 EPS and FY2024 earnings at $21.01 EPS.
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus lowered their price objective on Texas Pacific Land from $519.33 to $471.33 and set a "hold" rating on the stock in a report on Tuesday, January 23rd. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Thursday.
View Our Latest Report on TPL
Texas Pacific Land Trading Down 0.0 %
Shares of NYSE TPL traded down $0.05 during trading on Friday, reaching $597.11. 49,364 shares of the company traded hands, compared to its average volume of 71,936. The firm's fifty day simple moving average is $526.32 and its 200 day simple moving average is $548.86. The stock has a market cap of $13.73 billion, a P/E ratio of 33.95 and a beta of 1.60. Texas Pacific Land has a 12-month low of $422.07 and a 12-month high of $666.67.
Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.15 by $0.76. Texas Pacific Land had a return on equity of 43.57% and a net margin of 64.22%. The business had revenue of $166.66 million for the quarter, compared to the consensus estimate of $152.20 million.
Texas Pacific Land Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $1.1667 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.67 annualized dividend and a yield of 0.78%. Texas Pacific Land's dividend payout ratio is currently 26.55%.
Insider Buying and Selling
In other news, Director Eric L. Oliver purchased 300 shares of the business's stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $540.24 per share, with a total value of $162,073.00. Following the completion of the acquisition, the director now directly owns 393,300 shares of the company's stock, valued at approximately $212,477,703. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders bought 645 shares of company stock valued at $339,256 over the last ninety days. Corporate insiders own 20.04% of the company's stock.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the stock. Moneta Group Investment Advisors LLC grew its position in shares of Texas Pacific Land by 80,933.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 208,256 shares of the financial services provider's stock valued at $488,200,000 after purchasing an additional 207,999 shares during the last quarter. Vanguard Group Inc. increased its stake in Texas Pacific Land by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 629,117 shares of the financial services provider's stock worth $850,635,000 after buying an additional 47,484 shares during the period. BlackRock Inc. increased its stake in Texas Pacific Land by 10.3% during the 1st quarter. BlackRock Inc. now owns 300,942 shares of the financial services provider's stock worth $406,906,000 after buying an additional 28,028 shares during the period. State Street Corp increased its stake in Texas Pacific Land by 17.0% during the 1st quarter. State Street Corp now owns 153,483 shares of the financial services provider's stock worth $207,526,000 after buying an additional 22,265 shares during the period. Finally, Morgan Stanley grew its holdings in Texas Pacific Land by 41.2% during the 4th quarter. Morgan Stanley now owns 72,589 shares of the financial services provider's stock worth $170,168,000 after acquiring an additional 21,198 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.
About Texas Pacific Land
(
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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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