$5.79 EPS Expected for Texas Pacific Land Co. (NYSE:TPL) This Quarter
Analysts expect Texas Pacific Land Co. (NYSE:TPL) to announce $5.79 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Texas Pacific Land’s earnings. The highest EPS estimate is $5.81 and the lowest is $5.76. Texas Pacific Land posted earnings per share of $7.40 during the same quarter last year, which indicates a negative year over year growth rate of 21.8%. The company is scheduled to report its next earnings report on Thursday, April 29th.
According to Zacks, analysts expect that Texas Pacific Land will report full year earnings of $30.04 per share for the current financial year, with EPS estimates ranging from $28.10 to $31.97. For the next fiscal year, analysts anticipate that the firm will report earnings of $43.04 per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Texas Pacific Land.
Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Thursday, February 25th. The financial services provider reported $5.77 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $4.54 by $1.23. Texas Pacific Land had a return on equity of 41.56% and a net margin of 59.78%. The company had revenue of $74.30 million during the quarter, compared to analysts’ expectations of $64.65 million.
In other news, major shareholder Kinetics Asset Managem Horizon bought 44 shares of the company’s stock in a transaction dated Friday, January 8th. The stock was bought at an average price of $801.00 per share, for a total transaction of $35,244.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought a total of 125 shares of company stock valued at $139,267 over the last three months. Insiders own 0.92% of the company’s stock.
Large investors have recently modified their holdings of the company. Schwartz Investment Counsel Inc. raised its stake in shares of Texas Pacific Land by 66.8% during the third quarter. Schwartz Investment Counsel Inc. now owns 62,277 shares of the financial services provider’s stock worth $28,122,000 after buying an additional 24,933 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Texas Pacific Land by 22.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,324 shares of the financial services provider’s stock worth $62,031,000 after acquiring an additional 15,521 shares during the period. FIL Ltd increased its stake in shares of Texas Pacific Land by 26.6% in the 4th quarter. FIL Ltd now owns 67,441 shares of the financial services provider’s stock valued at $49,029,000 after acquiring an additional 14,161 shares during the last quarter. FMR LLC raised its position in shares of Texas Pacific Land by 291.6% in the 1st quarter. FMR LLC now owns 11,355 shares of the financial services provider’s stock valued at $8,785,000 after acquiring an additional 8,455 shares during the period. Finally, Morgan Stanley boosted its stake in Texas Pacific Land by 3.3% during the 4th quarter. Morgan Stanley now owns 251,061 shares of the financial services provider’s stock worth $182,522,000 after acquiring an additional 8,034 shares during the last quarter. Institutional investors own 46.87% of the company’s stock.
TPL stock traded down $7.20 during trading on Friday, hitting $1,605.37. 571 shares of the stock traded hands, compared to its average volume of 64,733. The stock has a market cap of $12.45 billion, a price-to-earnings ratio of 61.71 and a beta of 2.09. Texas Pacific Land has a one year low of $427.69 and a one year high of $1,710.50. The company has a 50 day simple moving average of $1,372.56 and a 200 day simple moving average of $835.97.
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Monday, March 8th were issued a dividend of $2.75 per share. This is an increase from Texas Pacific Land’s previous quarterly dividend of $2.50. The ex-dividend date of this dividend was Friday, March 5th. This represents a $11.00 annualized dividend and a yield of 0.69%. Texas Pacific Land’s dividend payout ratio is currently 26.58%.
About Texas Pacific Land
Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company's Land and Resource Management segment manages approximately 880,000 acres of land. This segment also holds oil and gas royalty interests; easements and commercial leases comprising easement contracts covering activities, such as oil and gas pipelines and subsurface wellbore easements; and agreements with operators and midstream companies to lease its land, primarily for facilities and roads.
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