Texas Pacific Land Co. (NYSE:TPL) CEO Tyler Glover acquired 158 shares of Texas Pacific Land stock in a transaction dated Tuesday, May 18th. The shares were bought at an average price of $1,649.40 per share, with a total value of $260,605.20. Following the transaction, the chief executive officer now directly owns 258 shares in the company, valued at approximately $425,545.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NYSE:TPL traded up $35.29 during trading hours on Thursday, reaching $1,550.00. 36,702 shares of the company’s stock were exchanged, compared to its average volume of 58,515. Texas Pacific Land Co. has a 1-year low of $427.69 and a 1-year high of $1,773.95. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of 57.97 and a beta of 2.09. The company has a 50-day moving average of $1,602.35 and a 200 day moving average of $1,075.84.
Texas Pacific Land (NYSE:TPL) last announced its earnings results on Thursday, May 6th. The financial services provider reported $6.45 EPS for the quarter, beating analysts’ consensus estimates of $5.77 by $0.68. Texas Pacific Land had a net margin of 59.78% and a return on equity of 41.56%. Equities research analysts forecast that Texas Pacific Land Co. will post 21.58 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 15th. Shareholders of record on Tuesday, June 8th will be paid a dividend of $2.75 per share. This represents a $11.00 annualized dividend and a yield of 0.71%. The ex-dividend date is Monday, June 7th. Texas Pacific Land’s dividend payout ratio is presently 26.58%.
A number of brokerages recently weighed in on TPL. BWS Financial boosted their price target on shares of Texas Pacific Land from $1,700.00 to $2,000.00 and gave the company a “buy” rating in a research report on Monday. Zacks Investment Research raised Texas Pacific Land from a “hold” rating to a “buy” rating and set a $1,767.00 target price for the company in a report on Tuesday, March 30th. Finally, Stifel Nicolaus downgraded Texas Pacific Land from a “buy” rating to a “hold” rating and set a $1,359.00 price target on the stock. in a research note on Thursday, April 1st.
Several hedge funds have recently made changes to their positions in TPL. FMR LLC increased its holdings in shares of Texas Pacific Land by 291.6% in the first quarter. FMR LLC now owns 11,355 shares of the financial services provider’s stock valued at $8,785,000 after purchasing an additional 8,455 shares during the period. Welch & Forbes LLC purchased a new position in Texas Pacific Land in the 4th quarter valued at $218,000. Evanson Asset Management LLC purchased a new position in Texas Pacific Land in the 4th quarter valued at $261,000. Rothschild Investment Corp IL acquired a new position in Texas Pacific Land in the 4th quarter valued at $211,000. Finally, Janney Montgomery Scott LLC raised its position in Texas Pacific Land by 74.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 5,990 shares of the financial services provider’s stock worth $4,355,000 after buying an additional 2,553 shares during the last quarter. Institutional investors own 46.87% 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'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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