Texas Pacific Land (NYSE:TPL) Shares Pass Above 200 Day Moving Average – Should You Sell?

Texas Pacific Land Corporation (NYSE:TPL)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $311.06 and traded as high as $314.78. Texas Pacific Land shares last traded at $311.3920, with a volume of 468,290 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on TPL shares. Weiss Ratings restated a “hold (c)” rating on shares of Texas Pacific Land in a report on Monday, December 29th. Tudor Pickering upgraded shares of Texas Pacific Land to a “strong sell” rating in a research note on Tuesday, October 21st. Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. Finally, KeyCorp set a $350.00 target price on shares of Texas Pacific Land and gave the company an “overweight” rating in a research note on Monday, December 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Texas Pacific Land presently has an average rating of “Hold” and a consensus price target of $350.00.

Texas Pacific Land Stock Performance

The firm has a market cap of $21.47 billion, a P/E ratio of 45.13 and a beta of 0.92. The firm’s fifty day moving average is $300.98 and its 200 day moving average is $310.76.

Texas Pacific Land (NYSE:TPL) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.92 by ($0.16). Texas Pacific Land had a return on equity of 38.15% and a net margin of 61.68%.The company had revenue of $203.10 million for the quarter, compared to analyst estimates of $175.00 million.

Texas Pacific Land Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.5333 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, December 1st. Texas Pacific Land’s dividend payout ratio is currently 30.87%.

Hedge Funds Weigh In On Texas Pacific Land

Institutional investors and hedge funds have recently modified their holdings of the business. Westwind Capital raised its stake in Texas Pacific Land by 176.8% in the 4th quarter. Westwind Capital now owns 19,789 shares of the financial services provider’s stock worth $5,684,000 after purchasing an additional 12,641 shares in the last quarter. IFS Advisors LLC grew its position in Texas Pacific Land by 200.0% during the fourth quarter. IFS Advisors LLC now owns 198 shares of the financial services provider’s stock worth $57,000 after buying an additional 132 shares in the last quarter. SG Americas Securities LLC increased its stake in Texas Pacific Land by 21.7% during the 4th quarter. SG Americas Securities LLC now owns 9,234 shares of the financial services provider’s stock worth $2,652,000 after acquiring an additional 1,645 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Texas Pacific Land by 332.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,562 shares of the financial services provider’s stock valued at $736,000 after acquiring an additional 1,969 shares during the period. Finally, TABR Capital Management LLC acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth $1,336,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

About Texas Pacific Land

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.