The stock of Texas Pacific Land Trust (NYSE:TPL) hit a new 52-week high and has $422.84 target or 54.00% above today’s $274.57 share price. The 7 months bullish chart indicates low risk for the $2.23 billion company. The 1-year high was reported on Oct, 17 by Barchart.com. If the $422.84 price target is reached, the company will be worth $1.20B 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 14,883 shares traded hands. Texas Pacific Land Trust (NYSE:TPL) has risen 86.53% since March 14, 2016 and is uptrending. It has outperformed by 80.92% 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.
State Bank Of New York Mellon accumulated 15,564 shares or 0% of the stock. Moreover, Asset Management Inc has 0.05% invested in Texas Pacific Land Trust (NYSE:TPL) for 1,500 shares. Deprince Race Zollo has 0.02% invested in the company for 5,944 shares. Northern Tru last reported 4,018 shares in the company. The New York-based Arbiter Prtn Mgmt Llc has invested 2.5% in Texas Pacific Land Trust (NYSE:TPL). Envestnet Asset Management Incorporated holds 1,500 shares or 0% of its portfolio. Brown Brothers Harriman Com, a New York-based fund reported 200 shares. Regentatlantic Cap Ltd Company holds 2,200 shares or 0.04% of its portfolio. First Manhattan accumulated 160,606 shares or 0.17% of the stock. The United Kingdom-based Blackrock Group Ltd has invested 0% in Texas Pacific Land Trust (NYSE:TPL). National Bank & Trust Of America De has 0% invested in the company for 6,349 shares. California Pub Employees Retirement Systems, a California-based fund reported 19,500 shares. Hodges Mgmt reported 431,500 shares or 3.53% of all its holdings. Steinberg Asset holds 0.31% or 10,665 shares in its portfolio. Of Vermont holds 0.02% of its portfolio in Texas Pacific Land Trust (NYSE:TPL) for 1,000 shares.
More notable recent Texas Pacific Land Trust (NYSE:TPL) news were published by: Seekingalpha.com which released: “Texas Pacific Land Trust Is Slowly Liquidating Itself” on October 16, 2016, also Marketwatch.com with their article: “Texas Pacific Land Trust Sub Share Ctf” published on December 21, 2009, Reuters.com published: “Texas Pacific Land Trust (TPL.N)” on May 23, 2008. More interesting news about Texas Pacific Land Trust (NYSE:TPL) were released by: Seekingalpha.com and their article: “Texas Pacific Land Trust, A Good Value” published on August 04, 2016 as well as Businesswire.com‘s news article titled: “Texas Pacific Land Trust Second Quarter Earnings Release (Unaudited)” with publication date: February 01, 2008.
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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