Texas Pacific Land (NYSE:TPL) Sets New 12-Month High - What's Next?

Shares of Texas Pacific Land Co. (NYSE:TPL - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $1,105.04 and last traded at $1,105.04, with a volume of 2184 shares changing hands. The stock had previously closed at $1,089.97.

Analyst Upgrades and Downgrades

Separately, BWS Financial reiterated a "buy" rating and issued a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.

Texas Pacific Land Trading Up 0.7 %

The stock has a market capitalization of $25.23 billion, a PE ratio of 56.27 and a beta of 1.60. The firm's fifty day moving average is $914.13 and its 200-day moving average is $769.64.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released 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 return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same period in the prior year, the company posted $4.35 earnings per share.

Texas Pacific Land Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $1.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 dividend on an annualized basis and a yield of 0.43%. Texas Pacific Land's payout ratio is currently 24.07%.

Institutional Investors Weigh In On Texas Pacific Land

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Texas Pacific Land by 200.0% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider's stock worth $26,000 after purchasing an additional 30 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land during the 3rd quarter worth approximately $44,000. GAMMA Investing LLC increased its position in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider's stock worth $31,000 after buying an additional 41 shares during the period. American National Bank purchased a new stake in Texas Pacific Land in the second quarter valued at approximately $42,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Texas Pacific Land in the second quarter valued at approximately $44,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Company Profile

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.