Texas Pacific Land (NYSE:TPL) Posts Earnings Results

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

Texas Pacific Land Trading Down 4.2 %

Shares of NYSE:TPL traded down $60.64 during trading on Friday, hitting $1,370.38. 17,282 shares of the company were exchanged, compared to its average volume of 121,649. Texas Pacific Land has a fifty-two week low of $493.40 and a fifty-two week high of $1,769.14. The firm has a fifty day moving average price of $1,284.12 and a two-hundred day moving average price of $1,146.42. The stock has a market cap of $31.49 billion, a price-to-earnings ratio of 69.34 and a beta of 1.68.

Texas Pacific Land Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend 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.