Revenue Update on Texas Pacific Land Trust(NYSE:TPL)

Texas Pacific Land Trust(NYSE:TPL) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Jul 28, 2016. Earnings per share were $1.26.

Texas Pacific Land Trust (TPL) made into the market gainers list on Thursdays trading session with the shares advancing 2.81% or 4.72 points. Due to strong positive momentum, the stock ended at $172.72, which is also near the day’s high of $174. The stock began the session at $168 and the volume stood at 13,174 shares. The 52-week high of the shares is $174.7499 and the 52 week low is $96.54. The company has a current market capitalization of $1,393 M and it has 80,66,180 shares in outstanding.

Texas Pacific Land Trust (the Trust) is engaged in managing land including royalty interests for the benefit of its owners. The Trust’s income is derived primarily from land sales oil and gas royalties easements grazing and sundry leases interest on notes receivable and interest on investments. The Trust is a passive seller of land and does not actively solicit sales of land. As of December 31 2013 the Trust has sold a total of 1950 acres and 310 town lots totaling approximately 21 acres. As of February 15 2015 Texas Pacific Land Trust owned the surface estate in approximately 889022 acres of land consists of numerous separate tracts located in 18 counties in the western part of Texas. The Trust also owns a 1/128 nonparticipating perpetual oil and gas royalty interest under 85414 acres of land and a 1/16 nonparticipating perpetual oil and gas royalty interest under 373777 acres of land in the western part of Texas.

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