BWS Financial Reiterates Buy Rating for Texas Pacific Land (NYSE:TPL)

Texas Pacific Land (NYSE:TPL)‘s stock had its “buy” rating reiterated by stock analysts at BWS Financial in a research note issued to investors on Friday, Benzinga reports. They currently have a $917.00 price objective on the financial services provider’s stock. BWS Financial’s target price points to a potential upside of 47.80% from the company’s previous close.

Several other equities analysts have also recently weighed in on TPL. Stifel Nicolaus decreased their target price on shares of Texas Pacific Land from $519.33 to $471.33 and set a “hold” rating for the company in a research note on Tuesday, January 23rd. StockNews.com cut shares of Texas Pacific Land from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th.

Texas Pacific Land Trading Up 0.8 %

Shares of NYSE:TPL traded up $5.22 during mid-day trading on Friday, reaching $620.45. The stock had a trading volume of 12,866 shares, compared to its average volume of 70,425. The firm has a market cap of $14.27 billion, a PE ratio of 35.27 and a beta of 1.59. The firm has a 50 day simple moving average of $567.24 and a two-hundred day simple moving average of $543.22. Texas Pacific Land has a twelve month low of $422.07 and a twelve month high of $666.67.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 21st. The financial services provider reported $4.91 earnings per share for the quarter, beating analysts’ consensus estimates of $4.15 by $0.76. The business had revenue of $166.66 million for the quarter, compared to the consensus estimate of $152.20 million. Texas Pacific Land had a net margin of 64.22% and a return on equity of 43.57%. On average, equities analysts anticipate that Texas Pacific Land will post 20.14 EPS for the current fiscal year.

Insider Transactions at Texas Pacific Land

In other news, Director Eric L. Oliver bought 300 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $540.24 per share, with a total value of $162,073.00. Following the completion of the acquisition, the director now owns 393,300 shares of the company’s stock, valued at $212,477,703. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last 90 days, insiders bought 543 shares of company stock valued at $292,219. 20.04% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Trust & Banking Corp raised its stake in Texas Pacific Land by 163.5% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 15,154 shares of the financial services provider’s stock worth $8,751,000 after acquiring an additional 9,402 shares in the last quarter. First Foundation Advisors raised its stake in Texas Pacific Land by 365.8% during the first quarter. First Foundation Advisors now owns 6,279 shares of the financial services provider’s stock worth $3,632,000 after acquiring an additional 4,931 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in Texas Pacific Land by 225.9% during the first quarter. Tocqueville Asset Management L.P. now owns 37,785 shares of the financial services provider’s stock worth $21,859,000 after acquiring an additional 26,190 shares in the last quarter. Blair William & Co. IL raised its stake in Texas Pacific Land by 199.9% during the first quarter. Blair William & Co. IL now owns 8,022 shares of the financial services provider’s stock worth $4,641,000 after acquiring an additional 5,347 shares in the last quarter. Finally, Scout Investments Inc. acquired a new position in Texas Pacific Land during the first quarter worth about $13,606,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

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.