Texas Pacific Land (NYSE:TPL) Stock Rating Upgraded by StockNews.com

Texas Pacific Land (NYSE:TPL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Separately, Stifel Nicolaus reduced their target price on shares of Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating on the stock in a research note on Tuesday, January 23rd.

Texas Pacific Land Price Performance

Shares of TPL stock opened at $578.54 on Wednesday. The firm’s 50-day moving average is $515.93 and its two-hundred day moving average is $549.28. Texas Pacific Land has a 12 month low of $422.07 and a 12 month high of $666.67. The company has a market capitalization of $4.44 billion, a PE ratio of 10.97 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $0.76. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. The company had revenue of $166.66 million for the quarter, compared to the consensus estimate of $152.20 million. Sell-side analysts forecast that Texas Pacific Land will post 58.6 EPS for the current year.

Insider Activity

In related news, Director Eric L. Oliver purchased 300 shares of Texas Pacific Land stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $540.24 per share, with a total value of $162,073.00. Following the purchase, the director now owns 393,300 shares of the company’s stock, valued at $212,477,703. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last three months, insiders have purchased 657 shares of company stock valued at $345,248. Company insiders own 20.04% of the company’s stock.

Institutional Investors Weigh In On Texas Pacific Land

Several large investors have recently added to or reduced their stakes in TPL. Moneta Group Investment Advisors LLC increased its stake in Texas Pacific Land by 80,933.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 208,256 shares of the financial services provider’s stock worth $488,200,000 after buying an additional 207,999 shares during the period. Vanguard Group Inc. increased its stake in Texas Pacific Land by 8.2% during the 1st quarter. Vanguard Group Inc. now owns 629,117 shares of the financial services provider’s stock worth $850,635,000 after buying an additional 47,484 shares during the period. BlackRock Inc. increased its stake in Texas Pacific Land by 10.3% during the 1st quarter. BlackRock Inc. now owns 300,942 shares of the financial services provider’s stock worth $406,906,000 after buying an additional 28,028 shares during the period. State Street Corp grew its holdings in Texas Pacific Land by 17.0% during the 1st quarter. State Street Corp now owns 153,483 shares of the financial services provider’s stock worth $207,526,000 after acquiring an additional 22,265 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Texas Pacific Land by 41.2% during the 4th quarter. Morgan Stanley now owns 72,589 shares of the financial services provider’s stock worth $170,168,000 after acquiring an additional 21,198 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

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.