Texas Pacific Land Trust (NYSE: TPL) recently received the rating of “Buy” after a consensus from analysts at BidAskClub on a research report issued by the brokerage this Friday, December 18. This is up from their previous rating of “Hold”.

The company’ current market capitalization stands at $5.58 billion. It has a positive PE ratio of 25.93, along with a beta value of 1.93 at the moment. The 12-monthly high to low ranges from $838.50 to $295.05. The 50SMA (50 Days Simple Moving Average) stands at $584.52 and its 200SMA stands at $551.61.

Texas Pacific Land Trust (NYSE: TPL) Stock Analysis

The quarterly earnings report for the previous quarter was released on the 2nd of November. The earnings stood at $5.97 EPS as opposed to the general consensus of $3.59 proposed by analysts at Zacks Investment Research. The company’s return on equity stood at 46.18% along with the net margin of 59.59%. The estimated income for the firm was marked at $55 million but it made $74.38 million for the quarter. Analysts at several brokerages further estimate that the company will post FY2020 (full year 2020) earnings per share of 19.27.

NYSE: TPL has recently been the subject of a lot of reports by research analysts. Zacks Investment Research increased the rating of this company to “Hold” from an earlier “sell” rating. Among the equities that posted reports on this company, two rated it as “hold”, two issued “buy”. Therefore, the recent consensus rating of currently stands at “Buy” and the consensus on the target price is $676.50.

Several hedge funds have also been involved in buying and selling of this company’s shares recently. Ropes Wealth Advisors LLC along with TCTC Holdings LLC and Private Advisor Group increased their stake at the Texas Pacific Land Trust. Institutional investors also have a lot of stake at this company. They own about 47.22% of Texas Pacific Land Trust shares.