Texas Pacific Land Co. (NYSE:TPL) Shares Sold by Bar Harbor Wealth Management

Bar Harbor Wealth Management cut its position in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,993 shares of the financial services provider's stock after selling 1,799 shares during the period. Texas Pacific Land makes up 1.4% of Bar Harbor Wealth Management's holdings, making the stock its 14th biggest holding. Bar Harbor Wealth Management owned 0.07% of Texas Pacific Land worth $21,191,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TPL. JPMorgan Chase & Co. increased its stake in Texas Pacific Land by 19.9% in the fourth quarter. JPMorgan Chase & Co. now owns 40,670 shares of the financial services provider's stock valued at $44,979,000 after purchasing an additional 6,747 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Texas Pacific Land during the fourth quarter worth about $380,000. Toronto Dominion Bank grew its stake in shares of Texas Pacific Land by 173.6% in the 4th quarter. Toronto Dominion Bank now owns 6,364 shares of the financial services provider's stock valued at $7,038,000 after purchasing an additional 4,038 shares during the last quarter. Spring Capital Management LLC acquired a new position in Texas Pacific Land in the 1st quarter valued at $5,008,000. Finally, ProShare Advisors LLC raised its holdings in Texas Pacific Land by 347.0% during the fourth quarter. ProShare Advisors LLC now owns 3,670 shares of the financial services provider's stock worth $4,059,000 after purchasing an additional 2,849 shares in the last quarter. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Texas Pacific Land Stock Performance

TPL stock traded down $28.24 during trading on Monday, reaching $1,091.35. 165,537 shares of the company were exchanged, compared to its average volume of 157,367. Texas Pacific Land Co. has a 52-week low of $724.75 and a 52-week high of $1,769.14. The company has a market cap of $25.09 billion, a P/E ratio of 55.34 and a beta of 1.12. The stock's 50 day moving average price is $1,260.93 and its 200 day moving average price is $1,290.22.

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

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, June 2nd. Texas Pacific Land's dividend payout ratio is presently 32.02%.

Texas Pacific Land 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.