Texas Pacific Land Corporation (TPL)

[couldbebetter]

TPL finally hit around $520 which means it hit the PE of around 20.
(Based on 2018 estimated EPS of around $26.) Keep in mind that
historically, the lowest PE for TPL has been around 16. Earnings
in 2019 may be goosed by the $100 million land sale, that would add
around $12.90 to q-1 EPS (assuming a 1031 exchange occurs for like
property.) For all of 2019, earnings could be around $35...If so,
that could mean TPL is trading at less than 15X 2019 potential earnings.
That would make the current price seem like a bargain. However, if we
go into a sustained BEAR market, how low could TPL go?