Texas Pacific Land (NYSE:TPL) Shares Up 6.4%

Texas Pacific Land Co. (NYSE:TPL) traded up 6.4% during trading on Thursday . The company traded as high as $599.59 and last traded at $599.59. 11,238 shares were traded during mid-day trading, a decline of 84% from the average session volume of 69,685 shares. The stock had previously closed at $563.50.

Analyst Ratings Changes

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

Texas Pacific Land Stock Up 8.8 %

The firm’s 50-day moving average price is $565.41 and its two-hundred day moving average price is $542.71. The firm has a market capitalization of $14.10 billion, a PE ratio of 35.27 and a beta of 1.59.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings data on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, topping analysts’ consensus estimates of $4.15 by $0.76. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. The firm had revenue of $166.66 million during the quarter, compared to analyst estimates of $152.20 million. Equities research analysts forecast that Texas Pacific Land Co. will post 20.14 EPS for the current year.

Texas Pacific Land Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a dividend of $1.1667 per share. This represents a $4.67 annualized dividend and a yield of 0.76%. The ex-dividend date was Thursday, February 29th. Texas Pacific Land’s payout ratio is 26.49%.

Insider Buying and Selling

In related news, Director Eric L. Oliver purchased 300 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was acquired at an average cost of $540.24 per share, for a total transaction of $162,073.00. Following the completion of the acquisition, the director now owns 393,300 shares in the company, valued at approximately $212,477,703. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders acquired 552 shares of company stock valued at $296,617. Corporate insiders own 20.04% of the company’s stock.

Institutional Trading of Texas Pacific Land

A number of institutional investors have recently added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC raised its holdings in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock valued at $31,000 after buying an additional 41 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Texas Pacific Land in the fourth quarter worth about $36,000. IFS Advisors LLC boosted its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares in the last quarter. Finally, Halpern Financial Inc. boosted its stake in shares of Texas Pacific Land by 200.0% during the 1st quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 50 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

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.