Texas Pacific Land's Q4 adjusted EBITDA beats expectations

Overview

• Texas landowner's Q4 revenue missed analyst expectations

• Adjusted EBITDA for Q4 beat consensus

• Company declared a 12.5% increase in regular dividend

Outlook

• Company did not provide specific financial guidance for future quarters or years

Result Drivers

• RECORD PRODUCTION - Achieved record oil and gas royalty production, water sales volumes, and produced water royalties volumes

• STRATEGIC INVESTMENTS - Invested $50 mln in data infrastructure co and acquired 17,306 net royalty acres

• INCREASED EXPENSES - Operating expenses rose due to higher depreciation and water service-related costs

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the oil & gas exploration and production peer group is "buy"

• Wall Street's median 12-month price target for Texas Pacific Land Corp is $332.05, about 22.1% below its February 17 closing price of $426.42

• The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 39 three months ago

Press Release: ID:nBw20gCcSa

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)