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Texas Pacific (TPL) Stock Moves -1.45%: What You Should Know

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Texas Pacific (TPL - Free Report) closed at $1,749.06 in the latest trading session, marking a -1.45% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.85%. Meanwhile, the Dow lost 1.66%, and the Nasdaq, a tech-heavy index, lost 10.91%.

Prior to today's trading, shares of the landowner had lost 6.52% over the past month. This has lagged the Oils-Energy sector's loss of 1.58% and the S&P 500's loss of 2.85% in that time.

Texas Pacific will be looking to display strength as it nears its next earnings release. On that day, Texas Pacific is projected to report earnings of $12.57 per share, which would represent a year-over-year decline of 0.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $164.54 million, up 11.67% from the year-ago period.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $54.24 per share and revenue of $702.77 million. These totals would mark changes of -6.11% and +5.3%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Texas Pacific. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 14.2% lower within the past month. Texas Pacific is holding a Zacks Rank of #4 (Sell) right now.

Investors should also note Texas Pacific's current valuation metrics, including its Forward P/E ratio of 32.72. This valuation marks a premium compared to its industry's average Forward P/E of 18.46.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

To follow TPL in the coming trading sessions, be sure to utilize Zacks.com.


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