Texas Pacific Land (NYSE:TPL) Releases Quarterly Earnings Results

Texas Pacific Land (NYSE:TPL) released its earnings results on Wednesday. The financial services provider reported $5.27 EPS for the quarter, Zacks reports. Texas Pacific Land had a net margin of 62.16% and a return on equity of 39.47%.

Texas Pacific Land Trading Up 0.3%

Shares of Texas Pacific Land stock traded up $3.03 during mid-day trading on Wednesday, reaching $917.46. 93,871 shares of the stock were exchanged, compared to its average volume of 135,580. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 45.74 and a beta of 1.12. The firm has a 50-day simple moving average of $927.18 and a 200 day simple moving average of $1,043.19. Texas Pacific Land has a fifty-two week low of $845.56 and a fifty-two week high of $1,769.14.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TPL shares. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Texas Pacific Land in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Insider Activity

In other news, Director Eric L. Oliver bought 100 shares of the company’s stock in a transaction that occurred on Thursday, August 21st. The stock was acquired at an average price of $881.27 per share, for a total transaction of $88,127.00. Following the transaction, the director directly owned 393,600 shares of the company’s stock, valued at $346,867,872. This trade represents a 0.03% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Texas Pacific Land

A number of hedge funds have recently added to or reduced their stakes in TPL. Ameriprise Financial Inc. grew its holdings in Texas Pacific Land by 205.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 23,199 shares of the financial services provider’s stock worth $24,508,000 after acquiring an additional 15,596 shares during the last quarter. Alliancebernstein L.P. grew its holdings in Texas Pacific Land by 18.1% during the 2nd quarter. Alliancebernstein L.P. now owns 20,735 shares of the financial services provider’s stock worth $21,904,000 after acquiring an additional 3,179 shares during the last quarter. Corient Private Wealth LLC grew its holdings in Texas Pacific Land by 289.0% during the 2nd quarter. Corient Private Wealth LLC now owns 14,154 shares of the financial services provider’s stock worth $14,954,000 after acquiring an additional 10,515 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in Texas Pacific Land by 38.6% during the 2nd quarter. Treasurer of the State of North Carolina now owns 13,147 shares of the financial services provider’s stock worth $13,888,000 after acquiring an additional 3,664 shares during the last quarter. Finally, NCM Capital Management LLC grew its holdings in Texas Pacific Land by 1.0% during the 2nd quarter. NCM Capital Management LLC now owns 10,158 shares of the financial services provider’s stock worth $10,731,000 after acquiring an additional 105 shares during the last quarter. Institutional investors own 59.94% 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 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.