Texas Pacific Land (NYSE:TPL) Receives Buy Rating from BWS Financial

BWS Financial reiterated their buy rating on shares of Texas Pacific Land (NYSE:TPL - Free Report) in a report issued on Friday, Benzinga reports. The firm currently has a $917.00 price objective on the financial services provider's stock.

Several other equities research analysts have also commented on 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 research report on Tuesday, January 23rd. StockNews.com lowered Texas Pacific Land from a buy rating to a hold rating in a research report on Thursday, April 4th.

Texas Pacific Land Trading Up 1.4 %

Shares of NYSE:TPL traded up $8.48 on Friday, hitting $623.71. 71,653 shares of the company were exchanged, compared to its average volume of 65,967. The stock's 50 day moving average price is $567.24 and its 200 day moving average price is $543.22. Texas Pacific Land has a 1-year low of $422.07 and a 1-year high of $666.67. The firm has a market capitalization of $14.35 billion, a P/E ratio of 35.46 and a beta of 1.59.

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, beating analysts' consensus estimates of $4.15 by $0.76. The firm had revenue of $166.66 million for the quarter, compared to analyst estimates of $152.20 million. Texas Pacific Land had a return on equity of 43.57% and a net margin of 64.22%. On average, equities analysts predict that Texas Pacific Land will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.75%. This is an increase from Texas Pacific Land's previous quarterly dividend of $1.17. The ex-dividend date of this dividend is Monday, June 3rd. Texas Pacific Land's dividend payout ratio is presently 26.55%.

Insider Transactions 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 stock was acquired at an average cost of $540.24 per share, with a total value of $162,073.00. Following the purchase, the director now directly owns 393,300 shares in the company, valued at approximately $212,477,703. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders acquired a total of 543 shares of company stock valued at $292,219 in the last three months. 20.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. grew its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock valued at $26,000 after buying an additional 30 shares in the last quarter. GAMMA Investing LLC grew its holdings in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock valued at $31,000 after buying an additional 41 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Texas Pacific Land in the 4th quarter valued at $36,000. IFS Advisors LLC grew its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider's stock worth $38,000 after purchasing an additional 44 shares during the period. Finally, Halpern Financial Inc. grew its holdings in shares of Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider's stock worth $44,000 after purchasing an additional 50 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

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.