Texas Pacific Land (TPL) Scheduled to Post Quarterly Earnings on Wednesday

Texas Pacific Land (NYSE:TPL - Get Free Report) is set to post its quarterly earnings results after the market closes on Wednesday, May 8th. Analysts expect Texas Pacific Land to post earnings of $4.75 per share for the quarter. Individual interested in participating in the company's earnings conference call can do so using this link.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.15 by $0.76. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. The business had revenue of $166.66 million during the quarter, compared to analyst estimates of $152.20 million. On average, analysts expect Texas Pacific Land to post $20 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Texas Pacific Land Stock Performance

Texas Pacific Land stock traded down $17.61 during mid-day trading on Wednesday, hitting $558.69. 58,113 shares of the company traded hands, compared to its average volume of 71,287. Texas Pacific Land has a one year low of $422.07 and a one year high of $666.67. The stock has a market cap of $12.85 billion, a price-to-earnings ratio of 32.30 and a beta of 1.60. The stock has a fifty day moving average price of $559.98 and a 200-day moving average price of $545.50.

Texas Pacific Land Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $1.1667 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.67 dividend on an annualized basis and a dividend yield of 0.84%. Texas Pacific Land's payout ratio is 26.55%.

Analyst Upgrades and Downgrades

TPL has been the subject of a number of recent research reports. StockNews.com lowered shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Thursday, April 4th. Stifel Nicolaus lowered their price objective on shares of Texas Pacific Land from $519.33 to $471.33 and set a "hold" rating for the company in a report on Tuesday, January 23rd. Finally, BWS Financial restated a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a report on Tuesday, April 2nd.

Insider Activity at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 300 shares of Texas Pacific Land stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $540.24 per share, with a total value of $162,073.00. Following the transaction, the director now directly owns 393,300 shares of the company's stock, valued at $212,477,703. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders bought 558 shares of company stock worth $298,643 in the last three months. 20.04% of the stock is owned by insiders.

About Texas Pacific Land

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.