Texas Pacific Land (NYSE:TPL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Texas Pacific Land (NYSE:TPL) from a sell rating to a hold rating in a research report sent to investors on Sunday morning.

A number of other research analysts have also weighed in on TPL. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Texas Pacific Land in a research report on Monday, December 29th. Finally, KeyCorp raised their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $639.00.

Texas Pacific Land Price Performance

NYSE TPL opened at $529.55 on Friday. The firm has a market cap of $36.51 billion, a P/E ratio of 75.90 and a beta of 0.83. The stock’s 50-day moving average is $418.95 and its 200-day moving average is $345.20. Texas Pacific Land has a one year low of $269.23 and a one year high of $547.20.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The business had revenue of $211.60 million for the quarter, compared to analysts’ expectations of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were given a $0.60 dividend. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. This represents a $2.40 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. Texas Pacific Land’s payout ratio is presently 34.38%.

Insider Transactions at Texas Pacific Land

In related news, Director Donna E. Epps bought 895 shares of Texas Pacific Land stock in a transaction dated Wednesday, February 25th. The stock was purchased at an average cost of $510.45 per share, with a total value of $456,852.75. Following the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at approximately $1,072,899. The trade was a 42.98% decrease in their position. The disclosure for this sale is available in the SEC filing. 6.90% of the stock is owned by insiders.

Institutional Trading of Texas Pacific Land

Large investors have recently bought and sold shares of the company. Quarry LP purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at $29,000. CX Institutional bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $30,000. Silicon Valley Capital Partners bought a new stake in Texas Pacific Land in the 3rd quarter valued at about $33,000. Triumph Capital Management purchased a new stake in Texas Pacific Land during the third quarter valued at about $36,000. Finally, Versant Capital Management Inc boosted its position in Texas Pacific Land by 75.0% during the third quarter. Versant Capital Management Inc now owns 42 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 18 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.