Texas Pacific Land (NYSE:TPL) Announces Quarterly Earnings Results

Texas Pacific Land (NYSE:TPL) announced its quarterly earnings results on Wednesday. The financial services provider reported $5.14 earnings per share for the quarter, Zacks reports. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.28%. The company had revenue of $185.78 million for the quarter.

Texas Pacific Land Stock Performance

NYSE TPL traded down $60.64 on Friday, reaching $1,370.38. The company had a trading volume of 17,282 shares, compared to its average volume of 121,649. The company’s fifty day moving average is $1,284.12 and its 200-day moving average is $1,146.42. The firm has a market capitalization of $31.49 billion, a price-to-earnings ratio of 69.34 and a beta of 1.68. Texas Pacific Land has a 1-year low of $493.40 and a 1-year high of $1,769.14.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio is currently 32.45%.

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.