Texas Pacific Land Co. (NYSE:TPL) Plans $10.00 None Dividend

Texas Pacific Land Co. (NYSE:TPL) declared a None dividend on Thursday, June 13th, NASDAQ reports. Stockholders of record on Monday, July 1st will be paid a dividend of 10.00 per share by the financial services provider on Monday, July 15th. The ex-dividend date is Monday, July 1st.

Texas Pacific Land has increased its dividend by an average of 9.1% per year over the last three years. Texas Pacific Land has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings.

Texas Pacific Land Trading Up 0.0 %

TPL opened at $733.97 on Friday. The stock has a market cap of $16.87 billion, a price-to-earnings ratio of 39.02 and a beta of 1.59. Texas Pacific Land has a 1 year low of $429.56 and a 1 year high of $799.46. The stock has a fifty day moving average price of $643.61 and a 200 day moving average price of $569.65.

Texas Pacific Land (NYSE:TPL) last released its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $4.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.58 by $0.39. The firm had revenue of $174.14 million during 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%. As a group, sell-side analysts forecast that Texas Pacific Land will post 21.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TPL. StockNews.com cut Texas Pacific Land from a “buy” rating to a “hold” rating in a research report on Tuesday, June 18th. BWS Financial reaffirmed a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Friday, May 10th.

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.