Texas Pacific Land (NYSE:TPL) Stock Price Up 4.2%

Shares of Texas Pacific Land Co. (NYSE:TPL - Get Free Report) shot up 4.2% on Friday . The stock traded as high as $633.07 and last traded at $626.71. 25,098 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 72,222 shares. The stock had previously closed at $601.52.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TPL. StockNews.com cut Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Thursday, April 4th. Stifel Nicolaus decreased their price objective on Texas Pacific Land from $519.33 to $471.33 and set a "hold" rating for the company in a research note on Tuesday, January 23rd. Finally, BWS Financial restated a "buy" rating and set a $917.00 price objective on shares of Texas Pacific Land in a research note on Tuesday, April 2nd.

Texas Pacific Land Stock Performance

The stock has a market capitalization of $13.95 billion, a PE ratio of 34.62 and a beta of 1.60. The business has a 50 day moving average of $534.17 and a two-hundred day moving average of $548.11.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, beating 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 company had revenue of $166.66 million during the quarter, compared to analysts' expectations of $152.20 million. On average, equities analysts expect that Texas Pacific Land Co. will post 20.72 EPS for the current fiscal year.

Texas Pacific Land Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a $1.1667 dividend. This represents a $4.67 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend was Thursday, February 29th. Texas Pacific Land's dividend payout ratio (DPR) is presently 26.55%.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 300 shares of the firm's stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $540.24 per share, for a total transaction of $162,073.00. Following the completion of the purchase, the director now owns 393,300 shares in the company, valued at approximately $212,477,703. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders acquired 609 shares of company stock worth $321,750. 20.04% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TPL. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Texas Pacific Land by 10.8% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 675 shares of the financial services provider's stock valued at $913,000 after purchasing an additional 66 shares during the period. American Century Companies Inc. increased its holdings in shares of Texas Pacific Land by 41.6% in the first quarter. American Century Companies Inc. now owns 729 shares of the financial services provider's stock valued at $986,000 after purchasing an additional 214 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Texas Pacific Land by 3.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 881 shares of the financial services provider's stock valued at $1,191,000 after purchasing an additional 26 shares during the period. Citigroup Inc. grew its holdings in Texas Pacific Land by 23.0% during the first quarter. Citigroup Inc. now owns 2,903 shares of the financial services provider's stock worth $3,925,000 after acquiring an additional 543 shares during the period. Finally, MetLife Investment Management LLC acquired a new stake in Texas Pacific Land during the first quarter worth about $515,000. 59.94% of the stock is owned by institutional investors and hedge funds.

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.