Texas Pacific Land (NYSE:TPL) Rating Increased to Strong-Buy at Zacks Research

Key Points

• Zacks Research upgraded Texas Pacific Land (TPL) from "hold" to "strong-buy"; MarketBeat shows a mixed analyst picture but an average rating of "Moderate Buy" with an average price target of $639.00.
• TPL opened at $423.45, has a market cap of $29.19B, a 52-week range of $269.23–$547.20 and a P/E of 60.69; last quarter EPS was $1.79 (beat consensus by $0.06) on $211.6M revenue, with a net margin of 60.31% and ROE of 36.18%.
• Insiders recently traded the stock (CAO sold 1,608 shares; a director bought 895 shares); insiders own 6.90% of TPL and institutional investors hold about 59.94%.

Texas Pacific Land (NYSE:TPL - Get Free Report) was upgraded by equities researchers at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on TPL. Weiss Ratings reiterated a "hold (c)" rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Texas Pacific Land from a "sell" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, KeyCorp increased their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an "overweight" rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Texas Pacific Land currently has an average rating of "Moderate Buy" and an average price target of $639.00.

Texas Pacific Land Stock Performance

Shares of NYSE TPL opened at $423.45 on Thursday. Texas Pacific Land has a 52-week low of $269.23 and a 52-week high of $547.20. The firm has a 50 day moving average price of $479.04 and a two-hundred day moving average price of $369.99. The stock has a market cap of $29.19 billion, a P/E ratio of 60.69 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a net margin of 60.31% and a return on equity of 36.18%. The company had revenue of $211.60 million during the quarter, compared to analysts' expectations of $204.00 million.

Insiders Place Their Bets

In other Texas Pacific Land news, CAO Stephanie Buffington sold 1,608 shares of the firm's stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $503.00, for a total value of $808,824.00. Following the completion of the sale, the chief accounting officer directly owned 2,133 shares in the company, valued at approximately $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donna E. Epps purchased 895 shares of Texas Pacific Land stock in a transaction on Wednesday, February 25th. The stock was bought at an average price of $510.45 per share, with a total value of $456,852.75. Following the completion of the acquisition, the director directly owned 2,921 shares of the company's stock, valued at approximately $1,491,024.45. This trade represents a 44.18% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Texas Pacific Land by 363.2% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 88 shares of the financial services provider's stock valued at $25,000 after buying an additional 69 shares in the last quarter. Summit Securities Group LLC lifted its stake in shares of Texas Pacific Land by 171.9% in the fourth quarter. Summit Securities Group LLC now owns 87 shares of the financial services provider's stock valued at $25,000 after buying an additional 55 shares in the last quarter. IFP Advisors Inc lifted its stake in shares of Texas Pacific Land by 185.3% in the fourth quarter. IFP Advisors Inc now owns 97 shares of the financial services provider's stock valued at $28,000 after buying an additional 63 shares in the last quarter. Quarry LP bought a new position in shares of Texas Pacific Land in the third quarter valued at $29,000. Finally, CX Institutional bought a new position in shares of Texas Pacific Land in the third quarter valued at $30,000. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation NYSE: TPL is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company's origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company's primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.

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