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

KBC Group NV lifted its position in shares of Texas Pacific Land Co. (NYSE:TPL) by 41.4% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,455 shares of the financial services provider’s stock after purchasing an additional 426 shares during the quarter. KBC Group NV’s holdings in Texas Pacific Land were worth $1,288,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. boosted its position in Texas Pacific Land by 7.1% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 46,784 shares of the financial services provider’s stock worth $41,392,000 after acquiring an additional 3,113 shares during the last quarter. Waverton Investment Management Ltd lifted its position in shares of Texas Pacific Land by 18.0% in the third quarter. Waverton Investment Management Ltd now owns 14,166 shares of the financial services provider’s stock worth $12,524,000 after purchasing an additional 2,160 shares in the last quarter. Entropy Technologies LP acquired a new position in Texas Pacific Land during the third quarter worth $973,000. State of New Jersey Common Pension Fund D grew its position in Texas Pacific Land by 1.1% in the third quarter. State of New Jersey Common Pension Fund D now owns 7,484 shares of the financial services provider’s stock valued at $6,621,000 after purchasing an additional 81 shares in the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in Texas Pacific Land by 23.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 1,481 shares of the financial services provider’s stock valued at $1,310,000 after buying an additional 284 shares during the last quarter. 59.94% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Stephanie Buffington sold 210 shares of Texas Pacific Land 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 transaction, the chief accounting officer now directly owns 584 shares in the company, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders bought a total of 117 shares of company stock valued at $119,938 in the last quarter. Company insiders own 6.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Texas Pacific Land Stock Up 2.9 %

Shares of Texas Pacific Land stock opened at $1,398.75 on Tuesday. Texas Pacific Land Co. has a 12-month low of $467.62 and a 12-month high of $1,421.22. The business’s 50 day moving average is $1,061.51 and its 200-day moving average is $853.92. The stock has a market cap of $32.14 billion, a P/E 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. Shareholders of record on Monday, December 2nd will be paid a $1.60 dividend. The ex-dividend date is Monday, December 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.46%. This is a boost from Texas Pacific Land’s previous quarterly dividend of $1.17. Texas Pacific Land’s dividend payout ratio (DPR) is currently 24.01%.

Texas Pacific Land 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.