TPL Stock Summary and Trading Ideas (Texas Pacific Land | NYSE:TPL)

Texas Pacific Land Corp is mainly engaged in the sales and leases of land owned, retaining oil and gas royalties, and the overall management of the land owned. It operates its business in two segments including Land and Resource Management and Water Service and Operations. The Land and Resource Management segment focuses on managing its oil and gas royalty interest and surface acres of land. The Water Services and Operations segment encompasses the business of providing full-service water offerings to operators, produced-water treatment, infrastructure development, and disposal solutions. The company generates the majority of its revenue from the Land and Resource Management segment.

Texas Pacific Land trades on the NYSE stock market under the symbol TPL.

As of April 18, 2024, TPL stock price declined to $582.40 with 62,219 million shares trading.

TPL has a beta of -0.16, meaning it tends to be less sensitive to market movements. TPL has a correlation of 0.00 to the broad based SPY ETF.

TPL has a market cap of $13.40 billion. This is considered a Large Cap stock.

Last quarter Texas Pacific Land reported $167 million in Revenue and $4.91 earnings per share. This beat revenue expectation by $14 million and exceeded earnings estimates by $.76.

In the last 3 years, TPL stock traded as high as $913.00 and as low as $315.43.

TPL stock has underperformed the market in the last year with a return of +6.4%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in TPL shares. However, TPL has outperformed the market in the last 3 month and 2 week periods, returning +19.0% and -0.8%, while SPY returned +6.1% and -3.8%, respectively. This indicates TPL has been having a stronger performance recently.

TPL support price is $569.98 and resistance is $599.94 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that TPL stock will trade within this expected range on the day.