Texas Pacific Land (NYSE:TPL) Sets New 12-Month High at $881.12

Shares of Texas Pacific Land Co. (NYSE:TPL - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $881.12 and last traded at $878.74, with a volume of 10188 shares. The stock had previously closed at $873.01.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BWS Financial reissued a "buy" rating and set a $917.00 target price on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com downgraded shares of Texas Pacific Land from a "buy" rating to a "hold" rating in a research report on Tuesday, June 18th.

Texas Pacific Land Price Performance

The company's 50-day simple moving average is $797.48 and its 200-day simple moving average is $658.26. The company has a market cap of $20.02 billion, a price-to-earnings ratio of 46.52 and a beta of 1.63.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $182.35 million. During the same period last year, the business earned $4.35 EPS. Equities analysts predict that Texas Pacific Land Co. will post 20.14 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be given a $1.17 dividend. This represents a $4.68 annualized dividend and a yield of 0.54%. The ex-dividend date is Tuesday, September 3rd. Texas Pacific Land's dividend payout ratio (DPR) is 24.88%.

Institutional Trading of Texas Pacific Land

Large investors have recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky purchased a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $3,770,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Texas Pacific Land by 82.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,407 shares of the financial services provider's stock valued at $1,768,000 after buying an additional 1,086 shares during the last quarter. Quarry LP boosted its stake in shares of Texas Pacific Land by 1,110.0% during the 2nd quarter. Quarry LP now owns 121 shares of the financial services provider's stock valued at $89,000 after buying an additional 111 shares during the last quarter. Creative Planning boosted its stake in shares of Texas Pacific Land by 3.4% during the 2nd quarter. Creative Planning now owns 6,348 shares of the financial services provider's stock valued at $4,661,000 after buying an additional 207 shares during the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new position in shares of Texas Pacific Land during the 2nd quarter valued at approximately $131,014,000. Institutional investors and hedge funds 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.