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

Clare Market Investments LLC acquired a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,800 shares of the financial services provider's stock, valued at approximately $11,944,000. Texas Pacific Land makes up approximately 2.8% of Clare Market Investments LLC's holdings, making the stock its 8th largest position.

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

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Texas Pacific Land Trading Up 1.7 %

TPL traded up $22.04 during trading on Wednesday, hitting $1,349.47. 97,163 shares of the company's stock traded hands, compared to its average volume of 129,791. The company's 50 day simple moving average is $1,339.88 and its two-hundred day simple moving average is $1,200.57. Texas Pacific Land Co. has a 12-month low of $529.03 and a 12-month high of $1,769.14. The stock has a market capitalization of $31.02 billion, a price-to-earnings ratio of 68.43 and a beta of 1.68.

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

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $1.60 dividend. The ex-dividend date is Monday, March 3rd. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.47%. Texas Pacific Land's dividend payout ratio (DPR) is currently 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.