Texas Pacific Land (NYSE:TPL) Releases Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Texas Pacific Land (NYSE:TPL) announced its quarterly earnings data on Wednesday. The financial services provider reported $2.42 earnings per share (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 business had revenue of $273.40 million for the quarter, compared to the consensus estimate of $251.00 million.

Texas Pacific Land Stock Performance

Shares of NYSE:TPL traded down $46.51 during trading on Wednesday, hitting $285.49. 1,177,520 shares of the stock were exchanged, compared to its average volume of 302,388. Texas Pacific Land has a 1-year low of $269.23 and a 1-year high of $547.20. The company has a market capitalization of $19.69 billion, a price-to-earnings ratio of 36.38 and a beta of 0.58. The company’s fifty day simple moving average is $349.72 and its 200-day simple moving average is $400.57.

Analysts Set New Price Targets

Several equities analysts recently commented on TPL shares. Zacks Research upgraded shares of Texas Pacific Land from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Texas Pacific Land from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Texas Pacific Land currently has an average rating of “Moderate Buy” and a consensus target price of $639.00.

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.