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 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.
Check Out Our Latest Stock Report on Texas Pacific Land
Texas Pacific Land Price Performance
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 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.
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