ING Groep NV Acquires Shares of 2,406 Texas Pacific Land Co. (NYSE:TPL)

ING Groep NV acquired a new position in shares of Texas Pacific Land Co. (NYSE:TPL) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,406 shares of the financial services provider’s stock, valued at approximately $2,661,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in Texas Pacific Land in the third quarter valued at $25,000. Quest Partners LLC purchased a new position in shares of Texas Pacific Land in the 3rd quarter valued at about $50,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Texas Pacific Land during the 4th quarter worth about $66,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Texas Pacific Land by 21.1% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 69 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 12 shares during the last quarter. Finally, Signaturefd LLC boosted its holdings in Texas Pacific Land by 16.9% in the third quarter. Signaturefd LLC now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 13 shares in the last quarter. Institutional investors and hedge funds own 59.94% of the company’s stock.

Texas Pacific Land Stock Down 5.9 %

Shares of Texas Pacific Land stock opened at $1,346.26 on Friday. The firm has a market capitalization of $30.94 billion, a P/E ratio of 68.27 and a beta of 1.68. Texas Pacific Land Co. has a 52 week low of $493.40 and a 52 week high of $1,769.14. The firm’s 50 day moving average is $1,287.07 and its two-hundred day moving average is $1,153.16.

Texas Pacific Land (NYSE:TPL) last posted its earnings results on Wednesday, February 19th. The financial services provider reported $5.14 EPS for the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%. The firm had revenue of $185.78 million for the quarter.

Texas Pacific Land Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd 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 0.48%. The ex-dividend date of this dividend is Monday, March 3rd. Texas Pacific Land’s dividend payout ratio (DPR) is currently 32.45%.

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.