Texas Pacific Land’s (TPL) Buy Rating Reiterated at BWS Financial

BWS Financial restated their buy rating on shares of Texas Pacific Land (NYSE:TPL) in a research report sent to investors on Monday morning, Benzinga reports. The brokerage currently has a $917.00 target price on the financial services provider’s stock. BWS Financial also issued estimates for Texas Pacific Land’s Q3 2024 earnings at $5.35 EPS, Q4 2024 earnings at $4.84 EPS and FY2024 earnings at $20.14 EPS.

Separately, StockNews.com downgraded shares of Texas Pacific Land from a buy rating to a hold rating in a research report on Tuesday, June 18th.

Texas Pacific Land Stock Performance

TPL opened at $828.66 on Monday. Texas Pacific Land has a 1 year low of $467.62 and a 1 year high of $854.66. The firm has a 50 day moving average price of $778.84 and a 200 day moving average price of $634.99. The company has a market cap of $19.05 billion, a PE ratio of 44.05 and a beta of 1.63.

Texas Pacific Land (NYSE:TPL) last issued 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 net margin of 66.71% and a return on equity of 41.29%. The firm had revenue of $172.33 million during the quarter, compared to analyst estimates of $182.35 million. During the same period last year, the business earned $4.35 EPS. On average, sell-side analysts predict that Texas Pacific Land will post 21.2 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be paid a dividend of $1.17 per share. This represents a $4.68 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend is Tuesday, September 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.88%.

Hedge Funds Weigh In On Texas Pacific Land

Institutional investors and hedge funds have recently made changes to their positions in the business. Avantax Advisory Services Inc. boosted its stake in shares of Texas Pacific Land by 204.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 1,010 shares of the financial services provider’s stock valued at $584,000 after buying an additional 678 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Texas Pacific Land by 229.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 15,054 shares of the financial services provider’s stock worth $8,709,000 after purchasing an additional 10,483 shares during the last quarter. Van ECK Associates Corp lifted its stake in Texas Pacific Land by 220.7% during the first quarter. Van ECK Associates Corp now owns 4,137 shares of the financial services provider’s stock worth $2,393,000 after purchasing an additional 2,847 shares during the last quarter. Sandbox Financial Partners LLC lifted its stake in Texas Pacific Land by 175.4% during the first quarter. Sandbox Financial Partners LLC now owns 2,181 shares of the financial services provider’s stock worth $1,262,000 after purchasing an additional 1,389 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Texas Pacific Land by 174.6% during the first quarter. Russell Investments Group Ltd. now owns 11,757 shares of the financial services provider’s stock worth $6,802,000 after purchasing an additional 7,476 shares during the last quarter. 59.94% of the stock is currently owned by hedge funds and other institutional investors.

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.