Clare Market Investments LLC Grows Stake in Texas Pacific Land Corporation $TPL

Key Points

• Clare Market Investments LLC increased its investment in Texas Pacific Land Corporation by 2.9%, owning approximately $11.74 million worth of shares as of their latest disclosure.
• Texas Pacific Land's earnings report revealed an EPS of $5.05, missing expectations, and the company has a market cap of $21.02 billion.
• The firm recently declared a quarterly dividend of $1.60 per share, representing an annual yield of 0.7% with a payout ratio of 31.90%.

Clare Market Investments LLC raised its stake in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 2.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,115 shares of the financial services provider's stock after buying an additional 315 shares during the quarter. Texas Pacific Land comprises about 2.6% of Clare Market Investments LLC's investment portfolio, making the stock its 9th biggest holding. Clare Market Investments LLC's holdings in Texas Pacific Land were worth $11,741,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of TPL. Hemington Wealth Management grew its holdings in shares of Texas Pacific Land by 66.7% in the first quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after acquiring an additional 8 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Texas Pacific Land by 110.0% in the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 11 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in shares of Texas Pacific Land in the first quarter valued at about $28,000. Allworth Financial LP lifted its position in shares of Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 8 shares in the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Stock Performance

Shares of Texas Pacific Land stock traded up $57.54 during trading hours on Tuesday, hitting $934.50. The company's stock had a trading volume of 61,962 shares, compared to its average volume of 138,286. The business has a 50 day moving average price of $926.46 and a two-hundred day moving average price of $1,121.06. Texas Pacific Land Corporation has a 12-month low of $845.56 and a 12-month high of $1,769.14. The company has a market cap of $21.48 billion, a PE ratio of 46.59 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). The firm had revenue of $187.54 million during the quarter, compared to analysts' expectations of $198.00 million. Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd were given a $1.60 dividend. This represents a $6.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, September 2nd. Texas Pacific Land's payout ratio is currently 31.90%.

Insiders Place Their Bets

In related news, Director Eric L. Oliver acquired 100 shares of Texas Pacific Land stock in a transaction on Thursday, August 21st. The shares were bought at an average cost of $881.27 per share, with a total value of $88,127.00. Following the completion of the purchase, the director directly owned 393,600 shares of the company's stock, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased 210 shares of company stock worth $190,205 over the last quarter. Insiders own 6.50% of the company's stock.

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.