KBC Group NV Has $1.29 Million Position in Texas Pacific Land Co. (NYSE:TPL)

KBC Group NV raised its position in Texas Pacific Land Co. (NYSE:TPL) by 41.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 1,455 shares of the financial services provider’s stock after buying an additional 426 shares during the period. KBC Group NV’s holdings in Texas Pacific Land were worth $1,288,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in TPL. Vanguard Group Inc. boosted its holdings in Texas Pacific Land by 199.8% in the first quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider’s stock valued at $1,099,867,000 after acquiring an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Texas Pacific Land by 74.2% during the second quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider’s stock worth $149,920,000 after buying an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC acquired a new position in Texas Pacific Land in the second quarter valued at approximately $131,014,000. Dimensional Fund Advisors LP boosted its stake in Texas Pacific Land by 8.5% in the second quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider’s stock valued at $92,632,000 after acquiring an additional 9,878 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Texas Pacific Land by 1,541.2% during the 2nd quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider’s stock worth $47,228,000 after acquiring an additional 60,400 shares during the period. 59.94% of the stock is owned by institutional investors and hedge funds.

Texas Pacific Land Price Performance

Shares of NYSE:TPL opened at $1,398.75 on Tuesday. The firm’s 50 day simple moving average is $1,061.51 and its 200 day simple moving average is $853.92. Texas Pacific Land Co. has a fifty-two week low of $467.62 and a fifty-two week high of $1,421.22. The company has a market capitalization of $32.14 billion, a price-to-earnings ratio of 71.77 and a beta of 1.56.

Texas Pacific Land Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd 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 0.46%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. The ex-dividend date is Monday, December 2nd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Insider Activity

In related news, CAO Stephanie Buffington sold 210 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $1,388.33, for a total transaction of $291,549.30. Following the completion of the sale, the chief accounting officer now directly owns 584 shares of the company’s stock, valued at approximately $810,784.72. This represents a 26.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders bought 117 shares of company stock valued at $119,938 in the last quarter. Company insiders own 6.50% of the company’s stock.

Analysts Set New Price Targets

Separately, BWS Financial restated a “buy” rating and issued a $917.00 price target on shares of Texas Pacific Land in a research report on Monday, August 12th.

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.