Bar Harbor Wealth Management Has $21.19 Million Position in Texas Pacific Land Co. (NYSE:TPL)

Bar Harbor Wealth Management reduced its position in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,993 shares of the financial services provider's stock after selling 1,799 shares during the period. Texas Pacific Land comprises approximately 1.4% of Bar Harbor Wealth Management's holdings, making the stock its 14th largest position. Bar Harbor Wealth Management owned approximately 0.07% of Texas Pacific Land worth $21,191,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the company. Fifth Third Bancorp increased its position in shares of Texas Pacific Land by 105.6% in the first quarter. Fifth Third Bancorp now owns 222 shares of the financial services provider's stock worth $294,000 after acquiring an additional 114 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Texas Pacific Land by 40.1% in the first quarter. SG Americas Securities LLC now owns 608 shares of the financial services provider's stock worth $806,000 after acquiring an additional 174 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Texas Pacific Land by 82.0% in the first quarter. GAMMA Investing LLC now owns 273 shares of the financial services provider's stock worth $362,000 after acquiring an additional 123 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Texas Pacific Land in the first quarter worth approximately $280,000. Finally, Farther Finance Advisors LLC increased its position in shares of Texas Pacific Land by 3.3% in the first quarter. Farther Finance Advisors LLC now owns 344 shares of the financial services provider's stock worth $465,000 after acquiring an additional 11 shares in the last quarter. 59.94% of the stock is owned by hedge funds and other institutional investors.

Texas Pacific Land Stock Up 1.9%

Shares of Texas Pacific Land stock traded up $20.72 during trading on Friday, hitting $1,118.22. The stock had a trading volume of 148,403 shares, compared to its average volume of 157,610. The company has a market capitalization of $25.70 billion, a PE ratio of 56.71 and a beta of 1.12. The stock has a 50 day simple moving average of $1,260.82 and a 200 day simple moving average of $1,298.13. Texas Pacific Land Co. has a 1 year low of $724.75 and a 1 year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing the consensus estimate of $5.27 by ($0.03). The company had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million. Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%.

Texas Pacific Land Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a dividend yield of 0.57%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is currently 32.02%.

Texas Pacific Land Company Profile

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.