Equities research analysts forecast that Texas Pacific Land Co. (NYSE:TPL) will post $105.75 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Texas Pacific Land’s earnings. The highest sales estimate is $111.00 million and the lowest is $100.50 million. Texas Pacific Land posted sales of $74.38 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 42.2%. The company is scheduled to issue its next quarterly earnings results on Monday, November 1st.
On average, analysts expect that Texas Pacific Land will report full-year sales of $391.50 million for the current year, with estimates ranging from $378.00 million to $405.00 million. For the next year, analysts expect that the company will post sales of $552.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Texas Pacific Land.
Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Thursday, August 5th. The financial services provider reported $7.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $7.37 by ($0.01). Texas Pacific Land had a net margin of 60.27% and a return on equity of 38.17%. The business had revenue of $95.93 million during the quarter, compared to the consensus estimate of $94.22 million.
Several institutional investors have recently bought and sold shares of the business. Parametric Portfolio Associates LLC lifted its position in shares of Texas Pacific Land by 70.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 1,711 shares of the financial services provider’s stock worth $2,737,000 after buying an additional 710 shares in the last quarter. Comerica Bank bought a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $216,000. Thrivent Financial for Lutherans bought a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $2,427,000. Bradley Foster & Sargent Inc. CT bought a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $654,000. Finally, X Square Capital LLC lifted its position in shares of Texas Pacific Land by 137.7% during the 2nd quarter. X Square Capital LLC now owns 1,878 shares of the financial services provider’s stock worth $3,004,000 after buying an additional 1,088 shares in the last quarter. 56.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE TPL opened at $1,250.88 on Wednesday. Texas Pacific Land has a fifty-two week low of $437.01 and a fifty-two week high of $1,773.95. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of 48.96 and a beta of 2.20. The firm’s 50-day simple moving average is $1,390.78 and its 200 day simple moving average is $1,493.96.
The company also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Shareholders of record on Wednesday, September 8th were given a dividend of $2.75 per share. The ex-dividend date of this dividend was Tuesday, September 7th. This represents a $11.00 annualized dividend and a dividend yield of 0.88%. Texas Pacific Land’s dividend payout ratio is currently 48.46%.
Texas Pacific Land Company Profile
Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.
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