Texas Pacific Land (NYSE:TPL) Posts Earnings Results

Texas Pacific Land (NYSE:TPL) released its quarterly earnings results on Wednesday. The financial services provider reported $5.14 earnings per share for the quarter, Zacks reports. Texas Pacific Land had a net margin of 65.34% and a return on equity of 40.57%.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $3.92 during midday trading on Wednesday, reaching $1,406.92. The company’s stock had a trading volume of 121,358 shares, compared to its average volume of 124,149. Texas Pacific Land has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The business’s 50 day moving average price is $1,275.20 and its two-hundred day moving average price is $1,142.49. The company has a market cap of $32.33 billion, a P/E ratio of 72.19 and a beta of 1.68.

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.