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

Texas Pacific Land (NYSE:TPL) is set to release 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. Parties that wish to listen to the company’s conference call can do so using this link.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share 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 analysts’ expectations of $152.20 million. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. 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 %

TPL opened at $571.09 on Tuesday. The company has a market capitalization of $13.14 billion, a PE ratio of 32.59 and a beta of 1.59. The firm 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 52 week low of $422.07 and a 52 week high of $666.67.

Texas Pacific Land Cuts Dividend

The company also recently announced 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 was Thursday, February 29th. This represents a $4.67 dividend on an annualized basis and a dividend yield of 0.82%. Texas Pacific Land’s dividend payout ratio is currently 26.55%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on TPL shares. StockNews.com downgraded Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. BWS Financial restated 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, Stifel Nicolaus lowered their price objective on shares of 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.

Insider Buying and Selling

In related news, Director Eric L. Oliver acquired 300 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $540.24 per share, for a total transaction of $162,073.00. Following the completion of the transaction, the director now directly owns 393,300 shares in the company, valued at approximately $212,477,703. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders purchased 555 shares of company stock worth $297,689. Corporate 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.