Clare Market Investments LLC Invests $14.43 Million in Texas Pacific Land Corporation $TPL

Clare Market Investments LLC purchased a new position in shares of Texas Pacific Land Corporation (NYSE:TPL) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 30,406 shares of the financial services provider’s stock, valued at approximately $14,429,000. Texas Pacific Land comprises about 3.0% of Clare Market Investments LLC’s holdings, making the stock its 8th biggest holding.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new position in Texas Pacific Land during the third quarter valued at $29,000. Silicon Valley Capital Partners purchased a new position in shares of Texas Pacific Land during the 3rd quarter valued at approximately $33,000. Triumph Capital Management acquired a new position in shares of Texas Pacific Land in the 3rd quarter valued at $36,000. MUFG Securities EMEA plc purchased a new stake in Texas Pacific Land during the second quarter worth $59,000. Finally, EverSource Wealth Advisors LLC grew its position in Texas Pacific Land by 21.4% during the second quarter. EverSource Wealth Advisors LLC now owns 68 shares of the financial services provider’s stock valued at $72,000 after buying an additional 12 shares during the period. 59.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Texas Pacific Land

In other Texas Pacific Land news, CFO Chris Steddum sold 830 shares of the firm’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $400.33, for a total transaction of $332,273.90. Following the completion of the sale, the chief financial officer owned 12,040 shares of the company’s stock, valued at $4,819,973.20. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 6.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings raised shares of Texas Pacific Land from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Wall Street Zen raised Texas Pacific Land from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. Finally, Zacks Research downgraded Texas Pacific Land from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $639.00.

Texas Pacific Land Stock Down 0.1%

Texas Pacific Land stock opened at $402.58 on Tuesday. The company has a fifty day simple moving average of $396.11 and a 200-day simple moving average of $405.90. Texas Pacific Land Corporation has a 52-week low of $269.23 and a 52-week high of $547.20. The firm has a market capitalization of $27.77 billion, a price-to-earnings ratio of 55.05 and a beta of 0.58.

Texas Pacific Land (NYSE:TPL) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.03 by $0.04. The business had revenue of $236.80 million during the quarter, compared to analyst estimates of $233.00 million. Texas Pacific Land had a return on equity of 35.52% and a net margin of 60.03%. On average, research analysts anticipate that Texas Pacific Land Corporation will post 8.88 EPS for the current fiscal year.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Monday, June 1st were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 0.6%. Texas Pacific Land’s dividend 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.