TXO Partners (NYSE:TXO) Trading 4.2% Higher Following Insider Buying Activity

TXO Partners, L.P. (NYSE:TXO)’s share price was up 4.2% on Monday following insider buying activity. The company traded as high as $21.35 and last traded at $21.01. Approximately 30,882 shares changed hands during trading, a decline of 45% from the average daily volume of 56,182 shares. The stock had previously closed at $20.16.

Specifically, major shareholder Global Endowment Management, L sold 41,978 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.03, for a total value of $756,863.34. Following the transaction, the insider now directly owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now owns 2,581,530 shares in the company, valued at approximately $57,309,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Global Endowment Management, L sold 41,978 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the sale, the insider now owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,878 shares of company stock valued at $2,583,684.

TXO Partners Price Performance

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06. The firm has a market cap of $643.55 million, a PE ratio of -3.56 and a beta of 0.06. The stock has a 50 day simple moving average of $20.84 and a 200-day simple moving average of $19.79.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $67.44 million during the quarter, compared to analyst estimates of $65.24 million. Equities analysts anticipate that TXO Partners, L.P. will post 1.35 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.65 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.50%. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TXO. Brown Brothers Harriman & Co. purchased a new position in shares of TXO Partners during the fourth quarter valued at about $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of TXO Partners during the fourth quarter valued at about $690,000. Raymond James Financial Services Advisors Inc. grew its position in shares of TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after purchasing an additional 42,533 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of TXO Partners during the fourth quarter valued at about $2,685,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of TXO Partners during the fourth quarter valued at about $4,346,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.