Arkadios Wealth Advisors Invests $472,000 in Texas Pacific Land Corporation (NYSE:TPL)

Key Points

• Arkadios Wealth Advisors has invested $472,000 in Texas Pacific Land Corporation, purchasing 356 shares in the first quarter, according to their latest SEC filing.
• Texas Pacific Land is experiencing increased interest from hedge funds, with several firms significantly raising their stakes, as institutional investors now own approximately 59.94% of the company's stock.
• The company recently reported quarterly earnings, showing a net margin of 63.24% and a quarterly dividend of $1.60, resulting in an annualized yield of 0.7%.

Arkadios Wealth Advisors acquired a new stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 356 shares of the financial services provider's stock, valued at approximately $472,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in shares of Texas Pacific Land by 19.9% during the 4th quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock worth $44,979,000 after purchasing an additional 6,747 shares during the period. Toronto Dominion Bank increased its holdings in shares of Texas Pacific Land by 173.6% during the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock worth $7,038,000 after purchasing an additional 4,038 shares during the period. Spring Capital Management LLC bought a new stake in Texas Pacific Land in the first quarter valued at about $5,008,000. ProShare Advisors LLC increased its stake in Texas Pacific Land by 347.0% in the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock valued at $4,059,000 after acquiring an additional 2,849 shares during the period. Finally, AustralianSuper Pty Ltd increased its stake in Texas Pacific Land by 4.8% in the first quarter. AustralianSuper Pty Ltd now owns 8,591 shares of the financial services provider's stock valued at $11,383,000 after acquiring an additional 391 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.4%

NYSE TPL traded down $3.84 on Friday, reaching $863.62. The company's stock had a trading volume of 92,758 shares, compared to its average volume of 138,079. The firm has a market cap of $19.85 billion, a PE ratio of 43.05 and a beta of 1.14. The business has a 50-day moving average price of $1,036.62 and a 200 day moving average price of $1,223.18. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 earnings per share for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The business had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million. Texas Pacific Land had a net margin of 62.16% and a return on equity of 40.85%.

Texas Pacific Land Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $1.60 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.7%. Texas Pacific Land's payout ratio is 31.90%.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.