TXO Partners (NYSE:TXO) Shares Up 2.9%

TXO Partners, L.P. (NYSE:TXO)’s share price traded up 2.9% on Thursday . The company traded as high as $20.73 and last traded at $20.53. 28,753 shares were traded during trading, a decline of 69% from the average session volume of 93,973 shares. The stock had previously closed at $19.95.

TXO Partners Stock Up 2.9 %

The firm has a market cap of $635.20 million, a PE ratio of -3.51 and a beta of 0.10. The business has a 50-day moving average price of $20.84 and a two-hundred day moving average price of $19.08. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million for the quarter, compared to analyst estimates of $65.24 million. On average, equities research analysts expect that TXO Partners, L.P. will post 1.28 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were paid a dividend of $0.65 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. This represents a $2.60 annualized dividend and a dividend yield of 12.66%. TXO Partners’s dividend payout ratio is -44.44%.

Insider Transactions at TXO Partners

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the sale, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $21.24, for a total transaction of $212,400.00. Following the completion of the transaction, the director now directly owns 2,561,530 shares of the company’s stock, valued at approximately $54,406,897.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28. Following the transaction, the insider now directly owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 137,878 shares of company stock worth $2,583,684.

Institutional Trading of TXO Partners

Several hedge funds and other institutional investors have recently bought and sold shares of the company. King Luther Capital Management Corp boosted its holdings in shares of TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after purchasing an additional 15,000 shares during the last quarter. Energy Income Partners LLC increased its stake in TXO Partners by 37.7% during the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after buying an additional 135,029 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners in the 4th quarter worth about $4,346,000. Hsbc Holdings PLC bought a new stake in shares of TXO Partners in the 4th quarter worth about $2,685,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of TXO Partners by 35.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after purchasing an additional 18,755 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.