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Texas Pacific (TPL) Dips More Than Broader Markets: What You Should Know
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Texas Pacific (TPL - Free Report) closed at $1,876.59 in the latest trading session, marking a -1.16% move from the prior day. This change lagged the S&P 500's 0.88% loss on the day. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the landowner had lost 8.15% in the past month. In that same time, the Oils-Energy sector gained 2%, while the S&P 500 gained 5.83%.
Investors will be hoping for strength from Texas Pacific as it approaches its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Texas Pacific to post earnings of $14.72 per share. This would mark year-over-year growth of 44.17%. Meanwhile, our latest consensus estimate is calling for revenue of $171.71 million, up 16.67% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Texas Pacific. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.38% higher. Texas Pacific is currently a Zacks Rank #3 (Hold).
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 29.05. For comparison, its industry has an average Forward P/E of 23.77, which means Texas Pacific is trading at a premium to the group.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TPL in the coming trading sessions, be sure to utilize Zacks.com.
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Texas Pacific (TPL) Dips More Than Broader Markets: What You Should Know
Texas Pacific (TPL - Free Report) closed at $1,876.59 in the latest trading session, marking a -1.16% move from the prior day. This change lagged the S&P 500's 0.88% loss on the day. At the same time, the Dow lost 0.73%, and the tech-heavy Nasdaq lost 4.59%.
Coming into today, shares of the landowner had lost 8.15% in the past month. In that same time, the Oils-Energy sector gained 2%, while the S&P 500 gained 5.83%.
Investors will be hoping for strength from Texas Pacific as it approaches its next earnings release, which is expected to be February 22, 2023. In that report, analysts expect Texas Pacific to post earnings of $14.72 per share. This would mark year-over-year growth of 44.17%. Meanwhile, our latest consensus estimate is calling for revenue of $171.71 million, up 16.67% from the prior-year quarter.
Investors might also notice recent changes to analyst estimates for Texas Pacific. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.38% higher. Texas Pacific is currently a Zacks Rank #3 (Hold).
Digging into valuation, Texas Pacific currently has a Forward P/E ratio of 29.05. For comparison, its industry has an average Forward P/E of 23.77, which means Texas Pacific is trading at a premium to the group.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow TPL in the coming trading sessions, be sure to utilize Zacks.com.