Texas Pacific Land (NYSE:TPL – Get Free Report) issued its earnings results on Wednesday. The financial services provider reported $2.42 EPS for the quarter, topping the consensus estimate of $2.33 by $0.09, FiscalAI reports. Texas Pacific Land had a net margin of 60.32% and a return on equity of 35.76%. The company had revenue of $273.40 million for the quarter, compared to the consensus estimate of $251.00 million.
Texas Pacific Land Price Performance
TPL traded down $46.51 on Wednesday, hitting $285.49. The company had a trading volume of 1,177,121 shares, compared to its average volume of 433,790. The stock has a fifty day simple moving average of $351.47 and a 200-day simple moving average of $400.80. The firm has a market capitalization of $19.69 billion, a P/E ratio of 36.38 and a beta of 0.58. Texas Pacific Land has a 52-week low of $269.23 and a 52-week high of $547.20.
Analysts Set New Price Targets
TPL has been the topic of a number of analyst reports. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Weiss Ratings upgraded Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Texas Pacific Land has a consensus rating of “Moderate Buy” and a consensus price target of $639.00.
Read Our Latest Report on Texas Pacific Land
Texas Pacific Land Company Profile
Texas Pacific Land Corporation (NYSE:TPL) is a land and resource management company focused on properties in West Texas, particularly the Permian Basin. The company owns approximately 850,000 acres of land and holds extensive oil and gas royalty interests, making it a significant participant in the region’s energy development.
Texas Pacific Land generates revenue through royalties on oil and natural gas produced from its acreage, as well as from land sales, easements, leases and other surface-related activities.
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