Texas Pacific Land Corporation (NYSE:TPL) Shares Sold by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI lessened its stake in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 72.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,632 shares of the financial services provider's stock after selling 6,906 shares during the period. Arcadia Investment Management Corp MI's holdings in Texas Pacific Land were worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Texas Pacific Land by 12.5% in the fourth quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider's stock valued at $2,599,426,000 after acquiring an additional 260,278 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Texas Pacific Land by 34.5% during the fourth quarter. Geode Capital Management LLC now owns 622,115 shares of the financial services provider's stock worth $693,023,000 after buying an additional 159,597 shares during the period. GAMMA Investing LLC boosted its stake in shares of Texas Pacific Land by 241,048.0% during the first quarter. GAMMA Investing LLC now owns 361,722 shares of the financial services provider's stock worth $479,278,000 after buying an additional 361,572 shares during the period. Invesco Ltd. boosted its stake in shares of Texas Pacific Land by 203.4% during the fourth quarter. Invesco Ltd. now owns 299,578 shares of the financial services provider's stock worth $331,321,000 after buying an additional 200,841 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Texas Pacific Land by 21.8% during the fourth quarter. Northern Trust Corp now owns 224,768 shares of the financial services provider's stock worth $248,584,000 after buying an additional 40,185 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Trading Down 0.4%

Shares of TPL traded down $3.70 during mid-day trading on Thursday, hitting $1,043.86. 32,919 shares of the company's stock were exchanged, compared to its average volume of 146,754. Texas Pacific Land Corporation has a fifty-two week low of $736.75 and a fifty-two week high of $1,769.14. The firm has a market capitalization of $24.00 billion, a P/E ratio of 52.21 and a beta of 1.08. The business's 50 day moving average is $1,184.49 and its two-hundred day moving average is $1,261.61.

Texas Pacific Land (NYSE:TPL - Get Free Report) last announced its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.04% and a net margin of 63.24%. The business had revenue of $195.98 million for the quarter, compared to analyst estimates of $211.00 million.

Texas Pacific Land Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $1.60 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.61%. Texas Pacific Land's payout ratio is currently 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.