Texas Pacific Land (NYSE:TPL) Shares Pass Above 200 Day Moving Average of $565.76

Shares of Texas Pacific Land Co. (NYSE:TPL) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $565.76 and traded as high as $761.89. Texas Pacific Land shares last traded at $750.22, with a volume of 205,565 shares.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TPL shares. BWS Financial reissued a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th. StockNews.com downgraded shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Tuesday, June 18th.

Texas Pacific Land Stock Down 1.4 %

The firm has a market cap of $16.85 billion, a PE ratio of 38.87 and a beta of 1.59. The stock’s fifty day simple moving average is $637.58 and its two-hundred day simple moving average is $567.00.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The business had revenue of $174.14 million during the quarter, compared to analysts’ expectations of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. On average, equities research analysts anticipate that Texas Pacific Land Co. will post 21.2 earnings per share for the current fiscal year.

Texas Pacific Land Announces Dividend

The company also recently announced a None dividend, which will be paid on Monday, July 15th. Shareholders of record on Monday, July 1st will be issued a $10.00 dividend. The ex-dividend date of this dividend is Monday, July 1st. Texas Pacific Land’s dividend payout ratio (DPR) is presently 24.88%.

Hedge Funds Weigh In On Texas Pacific Land

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TPL. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Texas Pacific Land by 200.0% during the first 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 in the last quarter. GAMMA Investing LLC raised its position in Texas Pacific Land by 315.4% in the 1st quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after buying an additional 41 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt bought a new position in Texas Pacific Land during the 4th quarter valued at about $36,000. IFS Advisors LLC boosted its holdings 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 valued at $38,000 after acquiring an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. grew its stake in shares of Texas Pacific Land by 200.0% in the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 50 shares during the period. 59.94% of the stock is owned by institutional investors.

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.