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

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

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 EPS for the quarter, beating the consensus estimate of $4.15 by $0.76. The company had revenue of $166.66 million during the quarter, compared to the consensus estimate of $152.20 million. Texas Pacific Land had a return on equity of 43.57% and a net margin of 64.22%. 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 Price Performance

Shares of TPL opened at $575.85 on Wednesday. Texas Pacific Land has a one year low of $422.07 and a one year high of $666.67. The company has a market cap of $13.24 billion, a PE ratio of 32.74 and a beta of 1.60. The stock has a 50-day moving average of $558.38 and a 200-day moving average of $545.84.

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 $1.1667 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $4.67 annualized dividend and a yield of 0.81%. Texas Pacific Land’s payout ratio is 26.55%.

Insiders Place Their Bets

In other news, Director Eric L. Oliver bought 300 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $540.24 per share, with a total value of $162,073.00. Following the transaction, the director now directly owns 393,300 shares in the company, valued at $212,477,703. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought a total of 558 shares of company stock valued at $298,643 in the last 90 days. 20.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently weighed in on TPL. Stifel Nicolaus dropped their price target on shares of Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating on the stock in a research report on Tuesday, January 23rd. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Tuesday, April 2nd. Finally, StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th.

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.