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

Texas Pacific Land (NYSE:TPL) will be releasing its earnings data after the market closes on Wednesday, May 8th. Analysts expect Texas Pacific Land to post earnings of $4.75 per share for the quarter. Persons 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, 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 company had revenue of $166.66 million for the quarter, compared to analysts’ expectations of $152.20 million. 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 Stock Up 1.7 %

NYSE TPL opened at $571.09 on Tuesday. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 32.59 and a beta of 1.59. The company has a 50-day simple moving average of $562.58 and a two-hundred day simple moving average of $543.64. Texas Pacific Land has a 12-month low of $422.07 and a 12-month high of $666.67.

Texas Pacific Land Cuts Dividend

The business 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. The ex-dividend date was Thursday, February 29th. This represents a $4.67 annualized dividend and a yield of 0.82%. Texas Pacific Land’s payout ratio is 26.55%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating for the company in a research report on Tuesday, January 23rd. BWS Financial reissued a “buy” rating and set 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.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, Director Eric L. Oliver bought 300 shares of Texas Pacific Land stock in a transaction dated Wednesday, March 13th. The shares were purchased at an average cost of $540.24 per share, with a total value of $162,073.00. Following the completion of the purchase, the director now owns 393,300 shares of the company’s stock, valued at $212,477,703. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired 555 shares of company stock valued at $297,689 in the last 90 days. Insiders own 20.04% of the company’s stock.

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.