Equities analysts forecast that Texas Pacific Land Co. (NYSE:TPL) will announce sales of $132.04 million for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Texas Pacific Land’s earnings. The highest sales estimate is $146.00 million and the lowest is $118.08 million. Texas Pacific Land reported sales of $74.30 million during the same quarter last year, which suggests a positive year over year growth rate of 77.7%. The company is expected to announce its next earnings results on Thursday, February 24th.
According to Zacks, analysts expect that Texas Pacific Land will report full year sales of $435.93 million for the current fiscal year, with estimates ranging from $421.86 million to $450.00 million. For the next fiscal year, analysts forecast that the business will report sales of $622.37 million, with estimates ranging from $603.73 million to $641.00 million. Zacks’ sales calculations are an average based on a survey of research analysts that cover Texas Pacific Land.
Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Thursday, November 4th. The financial services provider reported $10.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.83 by $1.99. Texas Pacific Land had a net margin of 62.35% and a return on equity of 38.17%. The firm had revenue of $123.69 million during the quarter, compared to analyst estimates of $106.25 million. During the same quarter last year, the business earned $5.97 EPS.
Several large investors have recently added to or reduced their stakes in TPL. Meeder Asset Management Inc. grew its position in Texas Pacific Land by 3.6% in the 2nd quarter. Meeder Asset Management Inc. now owns 200 shares of the financial services provider’s stock valued at $320,000 after purchasing an additional 7 shares during the period. Steward Partners Investment Advisory LLC grew its position in Texas Pacific Land by 1.6% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 559 shares of the financial services provider’s stock valued at $894,000 after purchasing an additional 9 shares during the period. Atom Investors LP grew its position in Texas Pacific Land by 2.5% in the 3rd quarter. Atom Investors LP now owns 404 shares of the financial services provider’s stock valued at $489,000 after purchasing an additional 10 shares during the period. Mercer Global Advisors Inc. ADV grew its position in Texas Pacific Land by 1.5% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 738 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 11 shares during the period. Finally, WMS Partners LLC grew its position in Texas Pacific Land by 2.2% in the 2nd quarter. WMS Partners LLC now owns 558 shares of the financial services provider’s stock valued at $893,000 after purchasing an additional 12 shares during the period. Institutional investors own 56.75% of the company’s stock.
Texas Pacific Land stock traded up $9.54 during mid-day trading on Thursday, hitting $1,307.48. 15,558 shares of the stock were exchanged, compared to its average volume of 46,071. Texas Pacific Land has a 12 month low of $585.00 and a 12 month high of $1,773.95. The firm’s fifty day simple moving average is $1,266.85 and its two-hundred day simple moving average is $1,402.13. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 43.01 and a beta of 2.24.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 15th. Stockholders of record on Wednesday, December 8th will be paid a $2.75 dividend. The ex-dividend date is Tuesday, December 7th. This represents a $11.00 annualized dividend and a dividend yield of 0.84%. Texas Pacific Land’s dividend payout ratio is currently 36.18%.
Texas Pacific Land Company Profile
Texas Pacific Land Corp. operates as a landowner in the State of Texas. Its surface and royalty ownership allow revenue generation through the entire value chain of oil and gas development, including through fixed fee payments for use of the firm’s land, revenue for sales of materials used in the construction of infrastructure, providing sourced water and treated produced water, revenue from its oil and gas royalty interests, and revenues related to saltwater disposal on land.
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