BWS Financial analyst Hamed Khorsand maintained a Buy rating on Texas Pacific Land (TPL – Research Report) today and set a price target of $2,750.00. The company’s shares closed last Friday at $1,412.15.
Khorsand covers the Technology sector, focusing on stocks such as ATN International, Shenandoah Telecommunications Co, and Iridium Communications. According to TipRanks, Khorsand has an average return of 10.1% and a 54.05% success rate on recommended stocks.
Texas Pacific Land has an analyst consensus of Moderate Buy, with a price target consensus of $2,074.50.
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Based on Texas Pacific Land’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $74.38 million and a net profit of $46.28 million. In comparison, last year the company earned a revenue of $98.53 million and had a net profit of $60.02 million
Based on the recent corporate insider activity of 231 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TPL in relation to earlier this year.
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Texas Pacific Land Trust engages in the provision of management of land. It operates through the Land and Resource Management; and Water Service and Operations segments. The Land and Resource Management segment involves in the business of managing the land and related resources in West Texas owned by the Trust. The Water Service and Operations segment consists of revenues from royalties on sales of water, direct sales of water and to a lesser extent, easements, and sundry income. The company was founded on February 1, 1888 and is headquartered in Dallas, TX.
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