Arcadia Investment Management Corp MI Sells 6,906 Shares of Texas Pacific Land Corporation (NYSE:TPL)

Arcadia Investment Management Corp MI lowered its position in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 72.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,632 shares of the financial services provider's stock after selling 6,906 shares during the quarter. Arcadia Investment Management Corp MI's holdings in Texas Pacific Land were worth $3,487,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TPL. Jones Financial Companies Lllp grew its holdings in shares of Texas Pacific Land by 2,575.0% during the 4th quarter. Jones Financial Companies Lllp now owns 107 shares of the financial services provider's stock worth $118,000 after purchasing an additional 103 shares in the last quarter. Assetmark Inc. acquired a new stake in Texas Pacific Land during the fourth quarter worth about $29,000. M&T Bank Corp increased its holdings in Texas Pacific Land by 2.1% in the 4th quarter. M&T Bank Corp now owns 941 shares of the financial services provider's stock valued at $1,041,000 after buying an additional 19 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Texas Pacific Land in the 4th quarter valued at approximately $31,802,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Texas Pacific Land during the 4th quarter worth approximately $41,303,000. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $5.96 during trading hours on Friday, hitting $1,045.07. 109,702 shares of the stock were exchanged, compared to its average volume of 147,313. The company's fifty day simple moving average is $1,173.20 and its two-hundred day simple moving average is $1,260.19. The company has a market cap of $24.03 billion, a PE ratio of 52.28 and a beta of 1.08. Texas Pacific Land Corporation has a 1-year low of $736.75 and a 1-year high of $1,769.14.

Texas Pacific Land (NYSE:TPL - Get Free Report) last issued its earnings results 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). Texas Pacific Land had a net margin of 63.24% and a return on equity of 40.04%. The business had revenue of $195.98 million during the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date was 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.