Texas Pacific Land Co. (NYSE:TPL – Get Free Report) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Tuesday, September 3rd will be given a dividend of 1.17 per share by the financial services provider on Tuesday, September 17th. This represents a $4.68 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Tuesday, September 3rd.
Texas Pacific Land has increased its dividend by an average of 9.1% per year over the last three years. Texas Pacific Land has a dividend payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings.
Texas Pacific Land Trading Down 0.2 %
TPL stock opened at $868.89 on Friday. The firm’s 50-day moving average price is $801.66 and its two-hundred day moving average price is $663.70. Texas Pacific Land has a 12-month low of $467.62 and a 12-month high of $881.12. The stock has a market capitalization of $19.97 billion, a price-to-earnings ratio of 46.19 and a beta of 1.63.
Analysts Set New Price Targets
Several brokerages recently issued reports on TPL. BWS Financial reiterated a “buy” rating and set a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th.
View Our Latest Research Report on Texas Pacific Land
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.
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