$79.72 Million in Sales Expected for Texas Pacific Land Co. (NYSE:TPL) This Quarter


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Equities research analysts forecast that Texas Pacific Land Co. (NYSE:TPL) will report $79.72 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Texas Pacific Land’s earnings, with the highest sales estimate coming in at $83.00 million and the lowest estimate coming in at $76.44 million. Texas Pacific Land reported sales of $96.59 million during the same quarter last year, which would suggest a negative year over year growth rate of 17.5%. The firm is scheduled to announce its next earnings report on Thursday, April 29th.

According to Zacks, analysts expect that Texas Pacific Land will report full year sales of $367.41 million for the current fiscal year, with estimates ranging from $352.81 million to $382.00 million. For the next financial year, analysts expect that the business will post sales of $493.00 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 posted its earnings results on Thursday, February 25th. The financial services provider reported $5.77 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.54 by $1.23. Texas Pacific Land had a return on equity of 41.56% and a net margin of 59.78%. The business had revenue of $74.30 million during the quarter, compared to analyst estimates of $64.65 million.

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

Texas Pacific Land stock traded down $7.20 during midday trading on Monday, reaching $1,605.37. 571 shares of the stock were exchanged, compared to its average volume of 64,733. The company’s fifty day moving average is $1,372.56 and its 200-day moving average is $835.97. Texas Pacific Land has a 52 week low of $427.69 and a 52 week high of $1,710.50. The firm has a market cap of $12.45 billion, a PE ratio of 61.71 and a beta of 2.09.

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

In other news, major shareholder Kinetics Asset Managem Horizon bought 44 shares of the company’s stock in a transaction that occurred on Friday, January 8th. The stock was bought at an average price of $801.00 per share, for a total transaction of $35,244.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last ninety days, insiders have acquired 125 shares of company stock valued at $139,267. Corporate insiders own 0.92% of the company’s stock.

A number of large investors have recently modified their holdings of TPL. Schwartz Investment Counsel Inc. boosted its position in Texas Pacific Land by 66.8% during the third quarter. Schwartz Investment Counsel Inc. now owns 62,277 shares of the financial services provider’s stock valued at $28,122,000 after buying an additional 24,933 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Texas Pacific Land by 22.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 85,324 shares of the financial services provider’s stock valued at $62,031,000 after acquiring an additional 15,521 shares during the period. FIL Ltd grew its position in Texas Pacific Land by 26.6% during the 4th quarter. FIL Ltd now owns 67,441 shares of the financial services provider’s stock worth $49,029,000 after acquiring an additional 14,161 shares during the last quarter. FMR LLC grew its position in Texas Pacific Land by 291.6% during the 1st quarter. FMR LLC now owns 11,355 shares of the financial services provider’s stock worth $8,785,000 after acquiring an additional 8,455 shares during the last quarter. Finally, Morgan Stanley increased its stake in Texas Pacific Land by 3.3% in the 4th quarter. Morgan Stanley now owns 251,061 shares of the financial services provider’s stock worth $182,522,000 after purchasing an additional 8,034 shares during the period. Institutional investors own 46.87% of the company’s stock.

Texas Pacific Land Company Profile

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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