Texas Pacific Land (NYSE:TPL) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Texas Pacific Land (NYSE:TPL) released its quarterly earnings results on Wednesday. The financial services provider reported $2.42 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.09, FiscalAI reports. Texas Pacific Land had a return on equity of 37.60% and a net margin of 60.71%. The firm had revenue of $273.40 million for the quarter, compared to analysts’ expectations of $251.00 million.

Texas Pacific Land Stock Up 0.1%

TPL traded up $0.32 during trading on Friday, hitting $272.50. The company’s stock had a trading volume of 379,673 shares, compared to its average volume of 435,613. The business’s 50 day simple moving average is $347.78 and its 200-day simple moving average is $400.25. The firm has a market cap of $18.80 billion, a PE ratio of 32.10 and a beta of 0.58. Texas Pacific Land has a one year low of $265.31 and a one year high of $547.20.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Tuesday, December 1st will be given a $0.60 dividend. The ex-dividend date is Tuesday, December 1st. This represents a $2.40 annualized dividend and a yield of 0.9%. Texas Pacific Land’s dividend payout ratio (DPR) is presently 28.20%.

Analysts Set New Price Targets

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

Texas Pacific Land Company Profile

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.