Texas Pacific Land (NYSE:TPL) Cut to “Hold” at StockNews.com

Texas Pacific Land (NYSE:TPLGet Free Report) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Other equities analysts have also recently issued research reports about the stock. BWS Financial reissued a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research note on Tuesday. Stifel Nicolaus lowered their price objective 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.

Check Out Our Latest Report on Texas Pacific Land

Texas Pacific Land Stock Up 2.2 %

Shares of NYSE:TPL opened at $588.08 on Thursday. The company has a market cap of $13.53 billion, a PE ratio of 33.44 and a beta of 1.60. The company’s 50-day moving average price is $522.35 and its 200 day moving average price is $548.59. Texas Pacific Land has a fifty-two week low of $422.07 and a fifty-two week high of $666.67.

Texas Pacific Land (NYSE:TPLGet Free Report) last issued its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share for the quarter, beating the consensus estimate of $4.15 by $0.76. The firm had revenue of $166.66 million for the quarter, compared to the consensus estimate of $152.20 million. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. As a group, equities analysts anticipate that Texas Pacific Land will post 19.53 EPS for the current year.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver purchased 300 shares of the stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $540.24 per share, with a total value of $162,073.00. Following the acquisition, the director now directly owns 393,300 shares of the company’s stock, valued at approximately $212,477,703. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders have acquired 642 shares of company stock valued at $337,496 in the last 90 days. 20.04% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $42,000. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in shares of Texas Pacific Land in the 4th quarter valued at about $36,000. Fred Alger Management LLC bought a new stake in shares of Texas Pacific Land in the 3rd quarter valued at about $41,000. Signaturefd LLC increased its stake in Texas Pacific Land by 52.9% during the 3rd quarter. Signaturefd LLC now owns 26 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 9 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Texas Pacific Land during the 4th quarter worth approximately $50,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

About Texas Pacific Land

(Get Free Report)

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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