Texas Pacific Land Corporation’s Stock Price Plummets to $1207.00, Marking a Steep 6.87% Dip

Texas Pacific Land Corporation (TPL)

1207.00 USD -89.09 (-6.87%) Volume: 0.26M

Discover how Texas Pacific Land Corporation’s stock price has soared with a remarkable YTD increase of +133.46%, despite a slight dip of -6.87% this trading session, currently trading at 1207.00 USD with a volume of 0.26M. Invest in TPL for robust long-term gains.

Latest developments on Texas Pacific Land Corporation

Leading up to today’s stock price movements, Texas Pacific Land has been a focal point for investors. Horizon Kinetics Asset Management recently purchased $2,639 worth of shares in the company, followed by Quantinno Capital Management LP buying shares as well. The market sentiment towards Texas Pacific Land has been mixed, with some indicating that the stock is 70% down to fair value. This sentiment is further supported by insider purchases from Horizon Kinetics. Additionally, large financial institutions like State Street Corp and EP Wealth Advisors LLC have significant stakes in Texas Pacific Land, indicating confidence in the company’s future. With Quadrature Capital Ltd and First Dallas Securities Inc. also holding substantial stock positions, the movement of Texas Pacific Land’s stock price today is eagerly anticipated by investors.

Texas Pacific Land Corporation on Smartkarma

Analyst Hamed Khorsand, in his report “TPL: Oily Water of Gold” on Smartkarma, highlighted the growth potential of Texas Pacific Land’s water business. Despite missing revenue estimates in the second quarter due to a decline in oil and gas royalties, TPL’s water sales exceeded expectations as the company expanded its service region. Khorsand sees the water business as a means for TPL to diversify from oil and gas, especially with the current low price of natural gas putting pressure on the company’s oil and gas royalties. He believes that TPL’s revenue from sources outside of oil and gas royalties could attract more investor attention and lead to a higher stock valuation.

A look at Texas Pacific Land Corporation Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Texas Pacific Land Corporation has a mixed long-term outlook. While the company scores average in Value, Dividend, and Growth, it excels in Resilience and Momentum, with both factors scoring a perfect 5. This indicates that Texas Pacific Land is well-positioned to weather economic downturns and has strong positive momentum in the market.

As the owner of valuable tracts of land in Texas, Texas Pacific Land Corporation generates income from various sources such as land sales, oil and gas royalties, grazing leases, and interest. With a high Resilience score, the company is likely to withstand market fluctuations and continue to provide stable returns for investors. Additionally, its strong Momentum score suggests that Texas Pacific Land has positive market sentiment and is on track for future growth and success.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.

💡 Before it’s here, it’s on Smartkarma