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

Arcadia Investment Management Corp MI lessened its position in Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 72.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Huntington National Bank increased its position in shares of Texas Pacific Land by 2.8% during the 4th quarter. Huntington National Bank now owns 333 shares of the financial services provider's stock worth $368,000 after purchasing an additional 9 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Texas Pacific Land by 13.0% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 78 shares of the financial services provider's stock worth $103,000 after purchasing an additional 9 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Texas Pacific Land by 0.4% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,093 shares of the financial services provider's stock worth $2,773,000 after purchasing an additional 9 shares during the last quarter. Signaturefd LLC increased its position in shares of Texas Pacific Land by 11.1% during the 4th quarter. Signaturefd LLC now owns 100 shares of the financial services provider's stock worth $111,000 after purchasing an additional 10 shares during the last quarter. Finally, CVA Family Office LLC increased its position in shares of Texas Pacific Land by 9.5% during the 1st quarter. CVA Family Office LLC now owns 115 shares of the financial services provider's stock worth $152,000 after purchasing an additional 10 shares during the last quarter. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Stock Down 0.6%

Shares of NYSE TPL traded down $5.96 during midday trading on Friday, hitting $1,045.07. 109,702 shares of the company's stock were exchanged, compared to its average volume of 147,464. The company's 50 day moving average price is $1,173.20 and its 200 day moving average price is $1,260.88. Texas Pacific Land Corporation has a 12 month low of $736.75 and a 12 month high of $1,769.14. The firm has a market capitalization of $24.03 billion, a PE ratio of 52.28 and a beta of 1.08.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $1.60 per share. 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 dividend payout ratio (DPR) is 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.