Texas Pacific Land Co. (NYSE:TPL) Shares Bought by KBC Group NV

KBC Group NV increased its holdings in Texas Pacific Land Co. (NYSE:TPL - Free Report) by 41.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,455 shares of the financial services provider's stock after acquiring an additional 426 shares during the period. KBC Group NV's holdings in Texas Pacific Land were worth $1,288,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Texas Pacific Land by 199.8% during the 1st quarter. Vanguard Group Inc. now owns 1,901,206 shares of the financial services provider's stock worth $1,099,867,000 after purchasing an additional 1,267,123 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Texas Pacific Land by 74.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 204,176 shares of the financial services provider's stock worth $149,920,000 after acquiring an additional 86,975 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Texas Pacific Land during the 2nd quarter worth approximately $131,014,000. Dimensional Fund Advisors LP increased its holdings in Texas Pacific Land by 8.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 126,156 shares of the financial services provider's stock valued at $92,632,000 after purchasing an additional 9,878 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Texas Pacific Land by 1,541.2% in the second quarter. Principal Financial Group Inc. now owns 64,319 shares of the financial services provider's stock valued at $47,228,000 after purchasing an additional 60,400 shares during the period. Institutional investors and hedge funds own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of NYSE TPL traded up $19.07 during midday trading on Tuesday, hitting $1,417.82. The company's stock had a trading volume of 79,507 shares, compared to its average volume of 103,416. The firm has a market capitalization of $32.58 billion, a price-to-earnings ratio of 72.75 and a beta of 1.56. The business's fifty day simple moving average is $1,074.10 and its two-hundred day simple moving average is $859.95. Texas Pacific Land Co. has a 1 year low of $467.62 and a 1 year high of $1,421.66.

Texas Pacific Land Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $1.60 dividend. This represents a $6.40 annualized dividend and a yield of 0.45%. The ex-dividend date is Monday, December 2nd. 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%.

Insiders Place Their Bets

In other news, CAO Stephanie Buffington sold 210 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $810,784.72. The trade was a 26.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 117 shares of company stock worth $119,938 over the last 90 days. Corporate insiders own 6.50% of the company's stock.

Analyst Ratings Changes

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

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.