Texas Pacific Land Co. (TPL) To Go Ex-Dividend on July 1st

Texas Pacific Land Co. (NYSE:TPL) announced a dividend on Thursday, June 13th, NASDAQ reports. Investors of record on Monday, July 1st will be given a dividend of 10.00 per share by the financial services provider on Monday, July 15th. The ex-dividend date of this dividend is Monday, July 1st.

Texas Pacific Land has increased its dividend payment by an average of 9.1% annually over the last three years. Texas Pacific Land has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings.

Texas Pacific Land Trading Down 1.8 %

NYSE TPL opened at $750.41 on Friday. The company has a 50-day moving average price of $607.78 and a two-hundred day moving average price of $552.65. Texas Pacific Land has a 52 week low of $422.07 and a 52 week high of $799.46. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 39.89 and a beta of 1.59.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, May 8th. The financial services provider reported $4.97 EPS for the quarter, beating the consensus estimate of $4.58 by $0.39. The firm had revenue of $174.14 million for 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, equities research analysts expect that Texas Pacific Land will post 21.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on TPL. BWS Financial reissued a “buy” rating and set a $917.00 target price on shares of Texas Pacific Land in a research note on Friday, May 10th. StockNews.com upgraded shares of Texas Pacific Land from a “hold” rating to a “buy” rating in a research report on Monday, June 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.