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Texas Pacific Land (TPL) to Post Q3 Earnings: What to Expect?
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Texas Pacific Land Corporation (TPL - Free Report) is set to report third-quarter 2023 results on Nov 1, after the closing bell.
In the last reported quarter, the company’s earnings were $13.05 per share, beating the Zacks Consensus Estimate of $11.11.
In the trailing four quarters, Texas Pacific Land beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 1.25%, on average. This is depicted in the graph below:
Texas Pacific Land Corporation Price and EPS Surprise
Let’s delve into the factors that are anticipated to have influenced the company’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for TPL’s third-quarter earnings per share of $14.52 has witnessed two upward revisions and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year decline of 13.7%.
The Zacks Consensus Estimate for third-quarter revenues of $174 million indicates an 8.9% decline from the year-ago reported figure.
Factors to Consider
The pricing trends for oil and natural gas in the third quarter were notably positive. According to data from the U.S. Energy Information Administration, the average West Texas Intermediate crude oil prices per barrel in July, August and September were $76.07, $81.39 and $89.43, respectively. While these prices did not reach the levels seen in the same quarter the previous year, they were still impressive and robust.
Texas Pacific Land is expected to have realized substantial profits from the extraction of oil and gas on its land. TPL receives royalties and lease payments from energy companies operating on its properties. It is important to note that TPL is not an oil and gas producer; rather, it generates revenues throughout the well's lifecycle from its surface and royalty ownership.
However, it is worth mentioning that TPL’s increased expenses are likely to have affected its third-quarter bottom line. Notably, the company’s total operating expenses in the second quarter reached $40.3 billion, marking a 64% increase from the same period in the previous year. The upward trajectory in costs is expected to have continued into the third quarter primarily due to the prevailing inflationary economic conditions.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Texas Pacific Landthis time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.
Earnings ESP: Texas Pacific Landhas an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Texas Pacific Land currently carries a Zacks Rank #2 (Buy).
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
The company is scheduled to release third-quarter earnings on Oct 31. The Zacks Consensus Estimate for MPLX’s earnings is pegged at 91 cents per share, suggesting a decline from the prior-year reported figure.
Cenovus Energy Inc. (CVE - Free Report) currently has an Earnings ESP of +6.53% and a Zacks Rank #3.
The company is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for CVE’s earnings is pegged at 59 cents per share, suggesting a decline from the prior-year reported figure.
Pioneer Natural Resources Company (PXD - Free Report) presently has an Earnings ESP of +0.91% and a Zacks Rank #2.
The company is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for PXD’s earnings is pegged at $5.53 per share, suggesting a decline from the prior-year reported figure.
Image: Bigstock
Texas Pacific Land (TPL) to Post Q3 Earnings: What to Expect?
Texas Pacific Land Corporation (TPL - Free Report) is set to report third-quarter 2023 results on Nov 1, after the closing bell.
In the last reported quarter, the company’s earnings were $13.05 per share, beating the Zacks Consensus Estimate of $11.11.
In the trailing four quarters, Texas Pacific Land beat the Zacks Consensus Estimate for the bottom line twice and missed the same twice, delivering an earnings surprise of 1.25%, on average. This is depicted in the graph below:
Texas Pacific Land Corporation Price and EPS Surprise
Texas Pacific Land Corporation price-eps-surprise | Texas Pacific Land Corporation Quote
Let’s delve into the factors that are anticipated to have influenced the company’s performance in the September-end quarter.
Estimate Trend
The Zacks Consensus Estimate for TPL’s third-quarter earnings per share of $14.52 has witnessed two upward revisions and no downward movement in the past 30 days. The consensus estimate suggests a year-over-year decline of 13.7%.
The Zacks Consensus Estimate for third-quarter revenues of $174 million indicates an 8.9% decline from the year-ago reported figure.
Factors to Consider
The pricing trends for oil and natural gas in the third quarter were notably positive. According to data from the U.S. Energy Information Administration, the average West Texas Intermediate crude oil prices per barrel in July, August and September were $76.07, $81.39 and $89.43, respectively. While these prices did not reach the levels seen in the same quarter the previous year, they were still impressive and robust.
Texas Pacific Land is expected to have realized substantial profits from the extraction of oil and gas on its land. TPL receives royalties and lease payments from energy companies operating on its properties. It is important to note that TPL is not an oil and gas producer; rather, it generates revenues throughout the well's lifecycle from its surface and royalty ownership.
However, it is worth mentioning that TPL’s increased expenses are likely to have affected its third-quarter bottom line. Notably, the company’s total operating expenses in the second quarter reached $40.3 billion, marking a 64% increase from the same period in the previous year. The upward trajectory in costs is expected to have continued into the third quarter primarily due to the prevailing inflationary economic conditions.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for Texas Pacific Landthis time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat. As you can see, that is not the case here.
Earnings ESP: Texas Pacific Landhas an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Texas Pacific Land currently carries a Zacks Rank #2 (Buy).
Stocks to Consider
Here are some firms worth considering, as these have the right combination of elements to beat on earnings in the upcoming quarterly reports:
MPLX LP (MPLX - Free Report) has an Earnings ESP of +0.82% and a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is scheduled to release third-quarter earnings on Oct 31. The Zacks Consensus Estimate for MPLX’s earnings is pegged at 91 cents per share, suggesting a decline from the prior-year reported figure.
Cenovus Energy Inc. (CVE - Free Report) currently has an Earnings ESP of +6.53% and a Zacks Rank #3.
The company is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for CVE’s earnings is pegged at 59 cents per share, suggesting a decline from the prior-year reported figure.
Pioneer Natural Resources Company (PXD - Free Report) presently has an Earnings ESP of +0.91% and a Zacks Rank #2.
The company is scheduled to release third-quarter earnings on Nov 2. The Zacks Consensus Estimate for PXD’s earnings is pegged at $5.53 per share, suggesting a decline from the prior-year reported figure.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.