Texas Pacific Land (NYSE:TPL) Sets New 1-Year High at $856.66

Texas Pacific Land Co. (NYSE:TPL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $856.66 and last traded at $856.66, with a volume of 30131 shares. The stock had previously closed at $829.93.

Analysts Set New Price Targets

Several research analysts have issued reports on TPL shares. BWS Financial reiterated a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

The firm has a market capitalization of $19.78 billion, a P/E ratio of 45.10 and a beta of 1.63. The business's fifty day moving average price is $789.31 and its two-hundred day moving average price is $646.66.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share 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 in the prior year, the business posted $4.35 earnings per share. Sell-side analysts predict that Texas Pacific Land Co. will post 20.14 earnings per share for the current year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be issued a $1.17 dividend. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio is currently 24.88%.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Texas Pacific Land by 30.8% in the 4th quarter. Signaturefd LLC now owns 34 shares of the financial services provider's stock valued at $53,000 after purchasing an additional 8 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in shares of 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 last quarter. GAMMA Investing LLC raised its position in shares of 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 last quarter. American National Bank purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Texas Pacific Land in the 2nd quarter valued at approximately $44,000. 59.94% of the stock is currently owned by institutional investors.

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.