Texas Pacific Land (NYSE:TPL) Trading Down 2.6%

Texas Pacific Land Co. (NYSE:TPL - Get Free Report)'s stock price was down 2.6% on Monday . The stock traded as low as $607.52 and last traded at $607.52. Approximately 13,295 shares changed hands during trading, a decline of 81% from the average daily volume of 70,441 shares. The stock had previously closed at $623.72.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPL. BWS Financial reiterated a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Friday. StockNews.com downgraded Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Thursday, April 4th. Finally, Stifel Nicolaus cut their target price on Texas Pacific Land from $519.33 to $471.33 and set a "hold" rating on the stock in a research report on Tuesday, January 23rd.

Texas Pacific Land Price Performance

The firm has a market cap of $13.91 billion, a P/E ratio of 33.16 and a beta of 1.59. The firm's 50-day moving average price is $569.27 and its 200 day moving average price is $542.36.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, topping the consensus estimate of $4.15 by $0.76. The company had revenue of $166.66 million during the quarter, compared to analyst estimates of $152.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. Analysts forecast that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be issued a dividend of $1.17 per share. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.77%. This is a boost from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date is Monday, June 3rd. Texas Pacific Land's dividend payout ratio is 24.88%.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver bought 300 shares of the stock in a transaction dated Wednesday, March 13th. The stock was bought 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 owns 393,300 shares of the company's stock, valued at $212,477,703. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have acquired 537 shares of company stock worth $289,687. 20.04% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TPL. Benjamin F. Edwards & Company Inc. boosted its position in shares of Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after buying an additional 30 shares during the period. GAMMA Investing LLC boosted its position in Texas Pacific Land by 315.4% during the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after acquiring an additional 41 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Texas Pacific Land in the fourth quarter worth $36,000. IFS Advisors LLC increased its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 44 shares during the period. Finally, Halpern Financial Inc. raised its stake in shares of Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock valued at $44,000 after purchasing an additional 50 shares in the last quarter. 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.

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