Texas Pacific Land (TPL) Set to Announce Earnings on Wednesday

Texas Pacific Land (NYSE:TPL) is set to announce its earnings results after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $4.75 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share for the quarter, topping analysts’ consensus estimates of $4.15 by $0.76. The business had revenue of $166.66 million for the quarter, compared to analysts’ expectations of $152.20 million. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. On average, analysts expect Texas Pacific Land to post $20 EPS for the current fiscal year and $22 EPS for the next fiscal year.

Texas Pacific Land Stock Performance

Shares of TPL opened at $575.85 on Wednesday. The stock has a market cap of $13.24 billion, a PE ratio of 32.74 and a beta of 1.60. Texas Pacific Land has a fifty-two week low of $422.07 and a fifty-two week high of $666.67. The firm’s 50-day simple moving average is $558.38 and its two-hundred day simple moving average is $545.84.

Texas Pacific Land Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were issued a $1.1667 dividend. This represents a $4.67 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date was Thursday, February 29th. Texas Pacific Land’s dividend payout ratio (DPR) is presently 26.55%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TPL shares. Stifel Nicolaus cut their price objective on shares of Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating on the stock in a report on Tuesday, January 23rd. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a report on Tuesday, April 2nd. Finally, StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a report on Thursday, April 4th.

Insider Activity

In other news, Director Eric L. Oliver purchased 300 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average price of $540.24 per share, for a total transaction of $162,073.00. Following the completion of the acquisition, the director now directly owns 393,300 shares in the company, valued at approximately $212,477,703. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders have bought a total of 558 shares of company stock worth $298,643 over the last 90 days. 20.04% of the stock is currently owned by insiders.

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.