Texas Pacific Land Co. (NYSE:TPL - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $1,160.55 and last traded at $1,160.55, with a volume of 2807 shares traded. The stock had previously closed at $1,153.63.
Wall Street Analyst Weigh In
Separately, BWS Financial reaffirmed a "buy" rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Monday, August 12th.
Read Our Latest Report on TPL
Texas Pacific Land Stock Performance
The company's 50-day moving average price is $937.02 and its 200 day moving average price is $785.35. The stock has a market capitalization of $26.76 billion, a P/E ratio of 59.98 and a beta of 1.60.
Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The financial services provider reported $4.98 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 business had revenue of $172.33 million during the quarter, compared to analysts' expectations of $182.35 million. During the same quarter in the previous year, the firm earned $4.35 earnings per share.
Texas Pacific Land Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a yield of 0.40%. Texas Pacific Land's payout ratio is 24.07%.
Hedge Funds Weigh In On Texas Pacific Land
Several hedge funds have recently modified their holdings of the stock. American National Bank bought a new position in shares of Texas Pacific Land during the 2nd quarter valued at about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Texas Pacific Land in the second quarter worth about $44,000. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land during the 3rd quarter valued at approximately $44,000. Signaturefd LLC grew its holdings in Texas Pacific Land by 16.9% during the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider's stock valued at $80,000 after buying an additional 13 shares in the last quarter. Finally, UniSuper Management Pty Ltd increased its stake in Texas Pacific Land by 200.0% in the 1st quarter. UniSuper Management Pty Ltd now owns 144 shares of the financial services provider's stock worth $83,000 after acquiring an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 59.94% of the company's stock.
About Texas Pacific Land
(
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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