Clare Market Investments LLC Purchases New Position in Texas Pacific Land Co. (NYSE:TPL)

Clare Market Investments LLC purchased a new stake in shares of Texas Pacific Land Co. (NYSE:TPL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 10,800 shares of the financial services provider’s stock, valued at approximately $11,944,000. Texas Pacific Land accounts for 2.8% of Clare Market Investments LLC’s investment portfolio, making the stock its 8th largest holding.

A number of other hedge funds also recently bought and sold shares of the business. Vista Investment Partners II LLC bought a new position in Texas Pacific Land in the 4th quarter valued at approximately $405,000. Independent Advisor Alliance increased its stake in shares of Texas Pacific Land by 1.4% in the 4th quarter. Independent Advisor Alliance now owns 3,679 shares of the financial services provider’s stock worth $4,069,000 after purchasing an additional 52 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Texas Pacific Land by 71.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,658 shares of the financial services provider’s stock worth $2,940,000 after buying an additional 1,111 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Texas Pacific Land by 72.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,640 shares of the financial services provider’s stock worth $7,344,000 after buying an additional 2,782 shares in the last quarter. Finally, Kendall Capital Management purchased a new stake in Texas Pacific Land in the 4th quarter worth $232,000. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 5.5 %

TPL opened at $1,376.19 on Monday. The firm has a 50-day simple moving average of $1,326.06 and a two-hundred day simple moving average of $1,192.68. Texas Pacific Land Co. has a 52 week low of $503.08 and a 52 week high of $1,769.14. The company has a market capitalization of $31.63 billion, a PE ratio of 69.79 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s payout ratio is presently 32.45%.

About Texas Pacific Land

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.