Texas Pacific Land (NYSE:TPL) Sets New 12-Month High – Time to Buy?

Texas Pacific Land Co. (NYSE:TPL) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $1,077.25 and last traded at $1,076.88, with a volume of 30382 shares changing hands. The stock had previously closed at $1,047.96.

Wall Street Analysts Forecast Growth

Separately, BWS Financial restated a “buy” rating and issued 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 stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 54.45 and a beta of 1.60. The stock has a 50-day moving average of $893.34 and a 200 day moving average of $755.87.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings results 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 return on equity of 41.29% and a net margin of 66.71%. The business had revenue of $172.33 million for the quarter, compared to analyst estimates of $182.35 million. During the same quarter in the prior year, the firm earned $4.35 EPS.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a $1.17 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $4.68 annualized dividend and a dividend yield of 0.44%. Texas Pacific Land’s dividend payout ratio is currently 24.07%.

Institutional Investors Weigh In On Texas Pacific Land

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. grew its position in shares of Texas Pacific Land by 200.0% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock worth $26,000 after buying an additional 30 shares during the period. GAMMA Investing LLC increased its stake in Texas Pacific Land by 315.4% in the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 41 shares in the last quarter. American National Bank acquired a new stake in Texas Pacific Land in the second quarter worth $42,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Texas Pacific Land in the second quarter worth $44,000. Finally, Compagnie Lombard Odier SCmA acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $44,000. 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.