Texas Pacific Land (NYSE:TPL) Lowered to Hold at StockNews.com

Texas Pacific Land (NYSE:TPL) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, BWS Financial restated a “buy” rating and set a $917.00 price objective on shares of Texas Pacific Land in a research report on Friday, May 10th.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $761.74 on Tuesday. Texas Pacific Land has a 1 year low of $422.07 and a 1 year high of $799.46. The stock’s fifty day moving average price is $610.85 and its 200-day moving average price is $554.20. The company has a market cap of $17.51 billion, a P/E ratio of 40.50 and a beta of 1.59.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share for the quarter, beating the consensus estimate of $4.58 by $0.39. The firm had revenue of $174.14 million for the quarter, compared to analysts’ expectations of $158.20 million. Texas Pacific Land had a return on equity of 43.16% and a net margin of 65.74%. On average, sell-side analysts anticipate that Texas Pacific Land will post 21.2 earnings per share for the current year.

Institutional Trading of Texas Pacific Land

Institutional investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. raised its stake in Texas Pacific Land by 200.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 45 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 30 shares during the last quarter. GAMMA Investing LLC boosted its position in Texas Pacific Land by 315.4% during the first quarter. GAMMA Investing LLC now owns 54 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 41 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Texas Pacific Land during the fourth quarter worth about $36,000. IFS Advisors LLC boosted its position in Texas Pacific Land by 200.0% during the first quarter. IFS Advisors LLC now owns 66 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 44 shares during the last quarter. Finally, Halpern Financial Inc. boosted its position in Texas Pacific Land by 200.0% during the first quarter. Halpern Financial Inc. now owns 75 shares of the financial services provider’s stock worth $44,000 after acquiring an additional 50 shares during the last quarter. 59.94% of the stock is owned by institutional investors and hedge funds.

About Texas Pacific Land

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.