Texas Pacific Land (NYSE:TPL) Raised to Strong Sell at Tudor Pickering

Texas Pacific Land (NYSE:TPL) was upgraded by investment analysts at Tudor Pickering to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a report on Tuesday, October 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce”.

Texas Pacific Land Trading Down 0.3%

Shares of NYSE:TPL opened at $925.50 on Tuesday. Texas Pacific Land has a 1-year low of $845.56 and a 1-year high of $1,769.14. The firm has a market capitalization of $21.27 billion, a PE ratio of 46.14 and a beta of 1.12. The business’s 50 day moving average is $921.67 and its 200-day moving average is $1,065.48.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing the consensus estimate of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The firm had revenue of $187.54 million for the quarter, compared to analyst estimates of $198.00 million.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver acquired 100 shares of the business’s stock in a transaction on Thursday, August 21st. The stock was purchased at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director owned 393,600 shares in the company, valued at $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Investors Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Texas Pacific Land by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,466,123 shares of the financial services provider’s stock worth $3,267,588,000 after acquiring an additional 115,743 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Texas Pacific Land by 3.9% during the second quarter. Geode Capital Management LLC now owns 605,760 shares of the financial services provider’s stock worth $648,866,000 after acquiring an additional 22,796 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Texas Pacific Land by 0.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 184,205 shares of the financial services provider’s stock worth $194,592,000 after acquiring an additional 720 shares during the last quarter. Schwartz Investment Counsel Inc. raised its position in shares of Texas Pacific Land by 2.1% during the second quarter. Schwartz Investment Counsel Inc. now owns 154,033 shares of the financial services provider’s stock worth $162,719,000 after acquiring an additional 3,210 shares during the last quarter. Finally, Legal & General Group Plc raised its position in shares of Texas Pacific Land by 13.6% during the second quarter. Legal & General Group Plc now owns 134,173 shares of the financial services provider’s stock worth $141,739,000 after acquiring an additional 16,094 shares during the last quarter. Institutional investors own 59.94% of the company’s stock.

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.