Texas Pacific Land (NYSE:TPL) Hits New 52-Week High – Here’s Why

Texas Pacific Land Co. (NYSE:TPL) shares hit a new 52-week high during trading on Thursday . The company traded as high as $1,160.55 and last traded at $1,160.55, with a volume of 2807 shares. The stock had previously closed at $1,153.63.

Analyst Ratings Changes

Separately, BWS Financial restated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research note on Monday, August 12th.

Texas Pacific Land Price Performance

The business’s 50 day moving average price is $937.02 and its 200-day moving average price is $785.35. The company has a market cap of $26.40 billion, a P/E ratio of 59.34 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by ($0.38). Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. The firm had revenue of $172.33 million during the quarter, compared to the consensus estimate of $182.35 million. During the same quarter last year, the firm posted $4.35 EPS.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.41%. The ex-dividend date was Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

Institutional Trading of Texas Pacific Land

Institutional investors have recently bought and sold shares of the business. Compagnie Lombard Odier SCmA acquired a new position in Texas Pacific Land in the 3rd quarter worth $44,000. American National Bank bought a new stake in Texas Pacific Land during the 2nd quarter worth about $42,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Texas Pacific Land during the 2nd quarter worth about $44,000. Signaturefd LLC grew its stake in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after buying an additional 13 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Texas Pacific Land by 880.0% during the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 88 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

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.