The stock of Texas Pacific Land Trust (NYSE:TPL) hit a new 52-week high and has $333.72 target or 29.00% above today’s $258.70 share price. The 6 months bullish chart indicates low risk for the $2.12 billion company. The 1-year high was reported on Oct, 7 by Barchart.com. If the $333.72 price target is reached, the company will be worth $614.80 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 31,742 shares traded hands. Texas Pacific Land Trust (NYSE:TPL) has risen 67.83% since March 4, 2016 and is uptrending. It has outperformed by 59.79% the S&P500.
Analysts await Texas Pacific Land Trust (NYSE:TPL) to report earnings on November, 3.
According to Zacks Investment Research, “Texas Pacific Land Trust conducts business through the sale and lease of lands owned by the company, retaining oil and gas royalties, temporary cash investments and the overall management of the land owned by Texas Pacific.”
Insitutional Activity: The institutional sentiment decreased to 1 in Q2 2016. Its down 0.26, from 1.26 in 2016Q1. The ratio dropped, as 6 funds sold all Texas Pacific Land Trust shares owned while 19 reduced positions. 8 funds bought stakes while 17 increased positions. They now own 3.06 million shares or 1.13% less from 3.09 million shares in 2016Q1.
Raymond James & Associate owns 4,100 shares or 0% of their US portfolio. Blackrock Grp last reported 0% of its portfolio in the stock. Brown Brothers Harriman & has 200 shares for 0% of their US portfolio. Hodges Management last reported 431,500 shares in the company. Whittier Trust last reported 500 shares in the company. Fifth Third Retail Bank has 0% invested in the company for 1,775 shares. The Texas-based Wfg Advsr L P has invested 0.03% in Texas Pacific Land Trust (NYSE:TPL). Teacher Retirement Of Texas holds 1,152 shares or 0% of its portfolio. First Dallas Secs accumulated 5.96% or 45,778 shares. Gsa Cap Ltd Liability Partnership holds 0.04% of its portfolio in Texas Pacific Land Trust (NYSE:TPL) for 4,409 shares. Citigroup accumulated 53 shares or 0% of the stock. Management Professionals Incorporated accumulated 0.01% or 120 shares. Alexandria Cap Limited Co has 20 shares for 0% of their US portfolio. Pnc Fincl Services Group owns 11,834 shares or 0% of their US portfolio. Jpmorgan Chase And Com reported 10,000 shares or 0% of all its holdings.
More notable recent Texas Pacific Land Trust (NYSE:TPL) news were published by: Marketwatch.com which released: “Texas Pacific Land Trust Sub Share Ctf” on December 21, 2009, also Reuters.com with their article: “Texas Pacific Land Trust (TPL.N)” published on May 23, 2008, Seekingalpha.com published: “Texas Pacific Land Trust, A Good Value” on August 04, 2016. More interesting news about Texas Pacific Land Trust (NYSE:TPL) were released by: Businesswire.com and their article: “Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)” published on February 01, 2008 as well as Seekingalpha.com‘s news article titled: “Texas Pacific Land Trust – Land For Sale At A Discount” with publication date: November 29, 2015.
TPL Company Profile
Texas Pacific Land Trust (the Trust), incorporated in 1888, is engaged in managing land, including royalty interests, for the benefit of its owners. The Trust operates through managing the land segment, including sales and leases of such land, and the retention of gas and oil royalties. It holds title to tracts of land in various West Texas counties. The Trust’s income is derived primarily from land sales, gas and oil royalties, easements, grazing and sundry leases, interest on notes receivable and interest on investments. The Trust is a passive seller of land and do not actively solicit sales of land.
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