Arcadia Investment Management Corp MI Has $2.29 Million Stake in Texas Pacific Land Corporation $TPL

Arcadia Investment Management Corp MI grew its holdings in Texas Pacific Land Corporation (NYSE:TPL) by 198.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,965 shares of the financial services provider’s stock after purchasing an additional 5,294 shares during the period. Arcadia Investment Management Corp MI’s holdings in Texas Pacific Land were worth $2,288,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in TPL. Vanguard Group Inc. increased its holdings in shares of Texas Pacific Land by 192.8% in the 4th quarter. Vanguard Group Inc. now owns 7,556,966 shares of the financial services provider’s stock valued at $2,170,512,000 after purchasing an additional 4,975,738 shares during the period. Geode Capital Management LLC increased its holdings in shares of Texas Pacific Land by 203.7% in the 4th quarter. Geode Capital Management LLC now owns 1,759,107 shares of the financial services provider’s stock valued at $503,581,000 after purchasing an additional 1,179,788 shares during the period. Pacific Heights Asset Management LLC increased its holdings in shares of Texas Pacific Land by 235.1% in the 4th quarter. Pacific Heights Asset Management LLC now owns 620,000 shares of the financial services provider’s stock valued at $178,076,000 after purchasing an additional 435,000 shares during the period. Schwartz Investment Counsel Inc. increased its holdings in shares of Texas Pacific Land by 209.7% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 475,104 shares of the financial services provider’s stock valued at $136,459,000 after purchasing an additional 321,683 shares during the period. Finally, UBS Group AG increased its holdings in shares of Texas Pacific Land by 232.4% in the 4th quarter. UBS Group AG now owns 456,034 shares of the financial services provider’s stock valued at $130,982,000 after purchasing an additional 318,842 shares during the period. Institutional investors and hedge funds own 59.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on TPL shares. Weiss Ratings upgraded Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. KeyCorp upped their target price on Texas Pacific Land from $350.00 to $639.00 and gave the company an “overweight” rating in a report on Monday, February 23rd. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a research note on Sunday, March 15th. Finally, Zacks Research upgraded Texas Pacific Land from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Texas Pacific Land currently has a consensus rating of “Moderate Buy” and an average price target of $639.00.

Texas Pacific Land Stock Down 0.1%

Shares of Texas Pacific Land stock opened at $392.54 on Monday. The stock has a market capitalization of $27.07 billion, a P/E ratio of 53.77 and a beta of 0.61. The stock has a 50 day moving average price of $434.42 and a two-hundred day moving average price of $390.40. Texas Pacific Land Corporation has a 12-month low of $269.23 and a 12-month high of $547.20.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.03 by $0.04. The firm had revenue of $236.80 million during the quarter, compared to analysts’ expectations of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. Sell-side analysts anticipate that Texas Pacific Land Corporation will post 9.27 earnings per share for the current year.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Monday, June 1st will be issued a dividend of $0.60 per share. The ex-dividend date is Monday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.6%. Texas Pacific Land’s payout ratio is 32.88%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.