Zacks: Brokerages Anticipate Texas Pacific Land Co. (NYSE:TPL) to Post $5.79 EPS


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Equities analysts expect Texas Pacific Land Co. (NYSE:TPL) to report $5.79 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Texas Pacific Land’s earnings. The highest EPS estimate is $5.81 and the lowest is $5.76. Texas Pacific Land reported earnings per share of $7.40 during the same quarter last year, which indicates a negative year-over-year growth rate of 21.8%. The business is scheduled to report its next quarterly earnings report on Thursday, April 29th.

According to Zacks, analysts expect that Texas Pacific Land will report full-year earnings of $30.04 per share for the current financial year, with EPS estimates ranging from $28.10 to $31.97. For the next fiscal year, analysts forecast that the business will report earnings of $43.04 per share. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Texas Pacific Land.

Texas Pacific Land (NYSE:TPL) last issued its earnings results on Thursday, February 25th. The financial services provider reported $5.77 earnings per share for the quarter, topping the Zacks’ consensus estimate of $4.54 by $1.23. Texas Pacific Land had a net margin of 59.78% and a return on equity of 41.56%. The business had revenue of $74.30 million for the quarter, compared to the consensus estimate of $64.65 million.

Several equities research analysts recently issued reports on the stock. BWS Financial raised their target price on shares of Texas Pacific Land from $1,150.00 to $1,700.00 and gave the company a “buy” rating in a research note on Monday, March 8th. Stifel Nicolaus cut Texas Pacific Land from a “buy” rating to a “hold” rating and set a $1,359.00 price objective for the company. in a research report on Thursday, April 1st. Finally, Zacks Investment Research raised Texas Pacific Land from a “hold” rating to a “buy” rating and set a $1,767.00 target price on the stock in a report on Tuesday, March 30th.

Shares of TPL traded down $7.20 during midday trading on Friday, reaching $1,605.37. The stock had a trading volume of 571 shares, compared to its average volume of 64,733. The firm has a market cap of $12.45 billion, a PE ratio of 61.71 and a beta of 2.09. The firm has a 50 day simple moving average of $1,372.56 and a 200-day simple moving average of $835.97. Texas Pacific Land has a one year low of $427.69 and a one year high of $1,710.50.

The business also recently declared a quarterly dividend, which was paid on Monday, March 15th. Investors of record on Monday, March 8th were paid a $2.75 dividend. The ex-dividend date was Friday, March 5th. This represents a $11.00 dividend on an annualized basis and a yield of 0.69%. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $2.50. Texas Pacific Land’s dividend payout ratio is 26.58%.

In related news, major shareholder Kinetics Asset Managem Horizon acquired 44 shares of the business’s stock in a transaction on Friday, January 8th. The stock was purchased at an average cost of $801.00 per share, for a total transaction of $35,244.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders acquired 125 shares of company stock worth $139,267. Insiders own 0.92% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning boosted its stake in Texas Pacific Land by 9.9% in the 4th quarter. Creative Planning now owns 5,260 shares of the financial services provider’s stock valued at $3,824,000 after purchasing an additional 473 shares during the period. LPL Financial LLC grew its stake in shares of Texas Pacific Land by 56.3% in the third quarter. LPL Financial LLC now owns 2,661 shares of the financial services provider’s stock valued at $1,202,000 after acquiring an additional 959 shares in the last quarter. Rothschild Investment Corp IL acquired a new position in shares of Texas Pacific Land in the fourth quarter valued at about $211,000. American Money Management LLC bought a new position in Texas Pacific Land during the fourth quarter worth about $4,266,000. Finally, Oppenheimer & Co. Inc. acquired a new stake in Texas Pacific Land in the 4th quarter worth about $386,000. Institutional investors own 46.87% of the company’s stock.

About Texas Pacific Land

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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