Texas Pacific Land Co. (NYSE:TPL) Forecasted to Post Q1 2022 Earnings of $14.58 Per Share

Texas Pacific Land Co. (NYSE:TPLGet Rating) – Stock analysts at BWS Financial boosted their Q1 2022 EPS estimates for Texas Pacific Land in a research note issued on Wednesday, April 20th. BWS Financial analyst H. Khorsand now anticipates that the financial services provider will post earnings per share of $14.58 for the quarter, up from their previous forecast of $14.27. BWS Financial also issued estimates for Texas Pacific Land’s Q2 2022 earnings at $14.67 EPS, Q3 2022 earnings at $15.37 EPS, Q4 2022 earnings at $14.01 EPS and FY2022 earnings at $58.62 EPS.

Texas Pacific Land (NYSE:TPLGet Rating) last announced its earnings results on Wednesday, February 23rd. The financial services provider reported $10.21 EPS for the quarter, missing the consensus estimate of $10.97 by ($0.76). The firm had revenue of $147.18 million during the quarter, compared to the consensus estimate of $128.26 million. During the same quarter in the previous year, the firm earned $5.77 EPS.

Several other research firms have also issued reports on TPL. Zacks Investment Research upgraded Texas Pacific Land from a “hold” rating to a “buy” rating and set a $1,629.00 target price for the company in a research report on Tuesday, March 29th. StockNews.com started coverage on shares of Texas Pacific Land in a research report on Thursday, March 31st. They issued a “hold” rating for the company.

Shares of NYSE TPL opened at $1,432.76 on Friday. The firm’s 50-day moving average is $1,303.49 and its 200-day moving average is $1,244.82. Texas Pacific Land has a 1 year low of $946.29 and a 1 year high of $1,773.95. The firm has a market capitalization of $11.10 billion, a PE ratio of 41.12 and a beta of 2.22.

Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its holdings in Texas Pacific Land by 291.6% during the first quarter. FMR LLC now owns 11,355 shares of the financial services provider’s stock worth $8,785,000 after buying an additional 8,455 shares during the last quarter. SG Americas Securities LLC lifted its stake in Texas Pacific Land by 19.1% in the 3rd quarter. SG Americas Securities LLC now owns 660 shares of the financial services provider’s stock valued at $798,000 after purchasing an additional 106 shares during the last quarter. Victory Capital Management Inc. bought a new position in Texas Pacific Land during the third quarter worth about $3,095,000. Cambridge Investment Research Advisors Inc. increased its position in Texas Pacific Land by 19.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 838 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 139 shares during the last quarter. Finally, Raymond James & Associates lifted its position in shares of Texas Pacific Land by 2.9% in the third quarter. Raymond James & Associates now owns 14,725 shares of the financial services provider’s stock valued at $17,807,000 after buying an additional 418 shares during the last quarter. Institutional investors own 56.70% of the company’s stock.

In other Texas Pacific Land news, Director Dana F. Mcginnis sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $1,261.75, for a total value of $1,261,750.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders bought 103 shares of company stock worth $129,183. Corporate insiders own 3.80% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 8th were paid a $3.00 dividend. This is an increase from Texas Pacific Land’s previous quarterly dividend of $2.75. The ex-dividend date was Monday, March 7th. This represents a $12.00 annualized dividend and a dividend yield of 0.84%. Texas Pacific Land’s dividend payout ratio (DPR) is currently 34.44%.

Texas Pacific Land Company Profile (Get Rating)

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 own 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 located in the western part of Texas.

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