Clare Market Investments LLC Invests $11.94 Million in Texas Pacific Land Co. (NYSE:TPL)

Clare Market Investments LLC purchased a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 10,800 shares of the financial services provider’s stock, valued at approximately $11,944,000. Texas Pacific Land accounts for about 2.8% of Clare Market Investments LLC’s investment portfolio, making the stock its 8th largest position.

A number of other hedge funds also recently bought and sold shares of the business. Hilltop Holdings Inc. boosted its position in Texas Pacific Land by 290.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 1,815 shares of the financial services provider’s stock valued at $1,606,000 after buying an additional 1,350 shares during the period. Quantinno Capital Management LP raised its stake in Texas Pacific Land by 63.5% during the 3rd quarter. Quantinno Capital Management LP now owns 2,976 shares of the financial services provider’s stock worth $2,634,000 after acquiring an additional 1,156 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Texas Pacific Land by 5.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 8,888 shares of the financial services provider’s stock valued at $7,864,000 after purchasing an additional 431 shares during the period. Biltmore Family Office LLC acquired a new position in Texas Pacific Land in the third quarter valued at $337,000. Finally, Everence Capital Management Inc. acquired a new position in Texas Pacific Land in the fourth quarter valued at $641,000. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Up 5.5 %

Shares of NYSE:TPL opened at $1,376.19 on Monday. The company has a market cap of $31.63 billion, a price-to-earnings ratio of 69.79 and a beta of 1.69. The firm’s 50-day simple moving average is $1,326.06 and its 200-day simple moving average is $1,192.68. Texas Pacific Land Co. has a fifty-two week low of $503.08 and a fifty-two week high of $1,769.14.

Texas Pacific Land (NYSE:TPL) last announced its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share (EPS) for the quarter. The company 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 business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $1.60 per share. This represents a $6.40 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is 32.45%.

Texas Pacific Land Company 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.