Texas Pacific Land (NYSE:TPL) Announces Earnings Results

Texas Pacific Land (NYSE:TPL) issued its quarterly earnings results on Wednesday. The financial services provider reported $2.42 EPS for the quarter, topping analysts’ consensus estimates of $2.33 by $0.09, FiscalAI reports. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The firm had revenue of $273.40 million for the quarter, compared to analyst estimates of $251.00 million.

Texas Pacific Land Price Performance

Texas Pacific Land stock traded down $46.51 during mid-day trading on Wednesday, hitting $285.49. The company’s stock had a trading volume of 1,177,121 shares, compared to its average volume of 433,790. The business has a 50 day moving average price of $351.47 and a 200-day moving average price of $400.80. Texas Pacific Land has a 12 month low of $269.23 and a 12 month high of $547.20. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 36.38 and a beta of 0.58.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TPL. Weiss Ratings upgraded Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Zacks Research upgraded Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Texas Pacific Land has an average rating of “Moderate Buy” and a consensus price target of $639.00.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. The company owns approximately 850,000 acres of land and holds extensive oil and gas royalty interests, making it a significant participant in the region’s energy development.

Texas Pacific Land generates revenue through royalties on oil and natural gas produced from its acreage, as well as from land sales, easements, leases and other surface-related activities.