Brokerages Expect Texas Pacific Land Co. (NYSE:TPL) Will Post Earnings of $13.82 Per Share

Equities analysts predict that Texas Pacific Land Co. (NYSE:TPLGet Rating) will report $13.82 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Texas Pacific Land’s earnings, with the highest EPS estimate coming in at $14.58 and the lowest estimate coming in at $13.05. Texas Pacific Land posted earnings per share of $6.45 during the same quarter last year, which would suggest a positive year-over-year growth rate of 114.3%. The company is expected to announce its next quarterly earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Texas Pacific Land will report full-year earnings of $62.22 per share for the current year, with EPS estimates ranging from $58.62 to $65.82. For the next year, analysts anticipate that the firm will report earnings of $79.18 per share. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that cover Texas Pacific Land.

Texas Pacific Land (NYSE:TPLGet Rating) last released its quarterly earnings data on Wednesday, February 23rd. The financial services provider reported $10.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $10.97 by ($0.76). The company had revenue of $147.18 million during the quarter, compared to the consensus estimate of $128.26 million. During the same quarter last year, the business posted $5.77 earnings per share.

Several equities research analysts recently weighed in on TPL shares. StockNews.com started coverage on Texas Pacific Land in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised Texas Pacific Land from a “hold” rating to a “buy” rating and set a $1,629.00 price objective on the stock in a report on Tuesday, March 29th.

In other Texas Pacific Land news, Director Dana F. Mcginnis sold 1,000 shares of Texas Pacific Land stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $1,261.75, for a total transaction of $1,261,750.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders have acquired a total of 103 shares of company stock worth $132,137 over the last ninety days. Company insiders own 3.80% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Atom Investors LP raised its position in shares of Texas Pacific Land by 2.5% in the 3rd quarter. Atom Investors LP now owns 404 shares of the financial services provider’s stock worth $489,000 after acquiring an additional 10 shares in the last quarter. Skba Capital Management LLC increased its position in Texas Pacific Land by 2.0% in the 4th quarter. Skba Capital Management LLC now owns 515 shares of the financial services provider’s stock valued at $643,000 after buying an additional 10 shares in the last quarter. Arlington Partners LLC increased its position in Texas Pacific Land by 18.5% in the 1st quarter. Arlington Partners LLC now owns 64 shares of the financial services provider’s stock valued at $87,000 after buying an additional 10 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its position in Texas Pacific Land by 1.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 738 shares of the financial services provider’s stock valued at $893,000 after buying an additional 11 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Texas Pacific Land by 1.4% in the 4th quarter. ProShare Advisors LLC now owns 816 shares of the financial services provider’s stock valued at $1,019,000 after buying an additional 11 shares in the last quarter. 56.70% of the stock is owned by hedge funds and other institutional investors.

NYSE TPL opened at $1,366.60 on Thursday. Texas Pacific Land has a twelve month low of $946.29 and a twelve month high of $1,773.95. The company has a market cap of $10.59 billion, a price-to-earnings ratio of 39.23 and a beta of 2.22. The business’s fifty day moving average is $1,344.07 and its 200 day moving average is $1,252.41.

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 15th. Shareholders of record on Tuesday, March 8th were issued a dividend of $3.00 per share. The ex-dividend date was Monday, March 7th. This is an increase from Texas Pacific Land’s previous quarterly dividend of $2.75. This represents a $12.00 annualized dividend and a yield of 0.88%. Texas Pacific Land’s payout ratio is presently 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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