Texas Pacific Land (NYSE:TPL) Share Price Passes Above 200-Day Moving Average of $542.26

Texas Pacific Land Co. (NYSE:TPLGet Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $542.26 and traded as high as $618.55. Texas Pacific Land shares last traded at $617.10, with a volume of 35,639 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. BWS Financial reissued a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research note on Friday, May 10th. Stifel Nicolaus dropped their price target on 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. Finally, StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th.

Get Our Latest Stock Analysis on TPL

Texas Pacific Land Stock Performance

The company’s 50 day moving average price is $581.47 and its 200 day moving average price is $542.26. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 32.81 and a beta of 1.59.

Texas Pacific Land (NYSE:TPLGet Free Report) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, topping the consensus estimate of $4.15 by $0.76. Texas Pacific Land had a net margin of 65.74% and a return on equity of 43.16%. The company had revenue of $166.66 million for the quarter, compared to analyst estimates of $152.20 million. On average, equities research analysts forecast that Texas Pacific Land Co. will post 20.23 EPS for the current fiscal year.

Texas Pacific Land Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be paid a $1.17 dividend. The ex-dividend date is Monday, June 3rd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $1.17. This represents a $4.68 dividend on an annualized basis and a yield of 0.76%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.83%.

Insider Activity at Texas Pacific Land

In other news, Director Eric L. Oliver bought 300 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $540.24 per share, for a total transaction of $162,073.00. Following the purchase, the director now owns 393,300 shares of the company’s stock, valued at approximately $212,477,703. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 511 shares of company stock worth $279,322. 20.04% of the stock is owned by insiders.

Institutional Trading of Texas Pacific Land

Hedge funds have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the period. GAMMA Investing LLC boosted its holdings in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares during the period. Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Texas Pacific Land in the 4th quarter valued at $36,000. IFS Advisors LLC boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 44 shares during the period. Finally, Halpern Financial Inc. boosted its holdings in Texas Pacific Land by 200.0% in the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 50 shares during the period. 59.94% of the stock is owned by institutional investors.

Texas Pacific Land Company Profile

(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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