Texas Pacific Land (NYSE:TPL) Trading Up 4.2%

Texas Pacific Land Co. (NYSE:TPL)’s stock price was up 4.2% during trading on Friday . The company traded as high as $633.07 and last traded at $626.71. Approximately 25,098 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 72,222 shares. The stock had previously closed at $601.52.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TPL shares. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Stifel Nicolaus dropped their price objective on shares of Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating for the company in a research note on Tuesday, January 23rd. Finally, BWS Financial reissued a “buy” rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research note on Tuesday, April 2nd.

Texas Pacific Land Stock Performance

The company’s fifty day moving average price is $536.71 and its 200-day moving average price is $547.54. The stock has a market cap of $13.93 billion, a P/E ratio of 34.44 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last released its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.15 by $0.76. The firm had revenue of $166.66 million during the quarter, compared to analyst estimates of $152.20 million. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. Analysts anticipate that Texas Pacific Land Co. will post 20.72 earnings per share for the current fiscal year.

Texas Pacific Land Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $1.1667 dividend. The ex-dividend date was Thursday, February 29th. This represents a $4.67 annualized dividend and a dividend yield of 0.77%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 26.55%.

Insider Transactions at Texas Pacific Land

In related news, Director Eric L. Oliver acquired 300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average price of $540.24 per share, for a total transaction 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders bought 609 shares of company stock worth $321,750. 20.04% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Westend Capital Management LLC bought a new stake in Texas Pacific Land during the 1st quarter valued at about $1,215,000. Radnor Capital Management LLC lifted its holdings in Texas Pacific Land by 59.4% during the 1st quarter. Radnor Capital Management LLC now owns 1,650 shares of the financial services provider’s stock valued at $955,000 after buying an additional 615 shares in the last quarter. Gulf International Bank UK Ltd raised its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. Gulf International Bank UK Ltd now owns 1,524 shares of the financial services provider’s stock valued at $881,000 after purchasing an additional 1,016 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Texas Pacific Land by 200.0% in the 1st quarter. CVA Family Office LLC now owns 96 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 64 shares in the last quarter. Finally, Enterprise Bank & Trust Co bought a new stake in shares of Texas Pacific Land in the 1st quarter valued at about $425,000. Institutional investors 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.