Texas Pacific (TPL) closed at $2,108.49 in the latest trading session, marking a +0.67% move from the prior day. The stock outpaced the S&P 500’s daily gain of 0.4%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 1.1%.
Coming into today, shares of the landowner had lost 20.89% in the past month. In that same time, the Oils-Energy sector gained 5.03%, while the S&P 500 lost 0.01%.
Investors will be hoping for strength from Texas Pacific as it approaches its next earnings release. The company is expected to report EPS of $15.14, up 48.29% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $185.21 million, up 25.84% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Texas Pacific. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Texas Pacific is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 33.13. This valuation marks a premium compared to its industry’s average Forward P/E of 25.4.
The Alternative Energy – Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 187, putting it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Texas Pacific Land Corporation (TPL) : Free Stock Analysis Report
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