Texas Pacific Land (NYSE:TPL) Hits New 1-Year High – Time to Buy?

Shares of Texas Pacific Land Co. (NYSE:TPL) 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 trading hands. The stock had previously closed at $1,089.97.

Analyst Upgrades and Downgrades

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

Texas Pacific Land Price Performance

The company’s 50-day simple moving average is $919.63 and its 200 day simple moving average is $774.52. The firm has a market cap of $25.23 billion, a P/E ratio of 56.48 and a beta of 1.60.

Texas Pacific Land (NYSE:TPL) last released 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). The business had revenue of $172.33 million for the quarter, compared to the consensus estimate of $182.35 million. Texas Pacific Land had a net margin of 66.71% and a return on equity of 41.29%. During the same quarter last year, the business earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.43%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.07%.

Institutional Investors Weigh In On Texas Pacific Land

Several institutional investors have recently made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new position in Texas Pacific Land in the 3rd quarter worth about $44,000. American National Bank purchased a new position in Texas Pacific Land in the 2nd quarter worth about $42,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Texas Pacific Land in the 2nd quarter worth about $44,000. Signaturefd LLC increased its stake in Texas Pacific Land by 16.9% in the 3rd quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock worth $80,000 after buying an additional 13 shares during the period. Finally, UMB Bank n.a. increased its stake in Texas Pacific Land by 880.0% in the 3rd quarter. UMB Bank n.a. now owns 98 shares of the financial services provider’s stock worth $87,000 after buying an additional 88 shares during the period. Institutional investors 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.