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

TXO Partners, L.P. (NYSE:TXO) was up 4.2% during trading on Monday following insider buying activity. The stock traded as high as $21.35 and last traded at $21.01. Approximately 30,882 shares were traded 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 24,148 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the completion of the sale, the insider now owns 1,112,219 shares in the company, valued at $20,297,996.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other TXO Partners news, major shareholder Global Endowment Management, L sold 24,148 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the completion of the sale, the insider now directly owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 2,561,530 shares in the company, valued at $54,406,897.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 137,878 shares of company stock worth $2,583,684.

TXO Partners Trading Up 0.2 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a market capitalization of $643.55 million, a PE ratio of -3.56 and a beta of 0.06. The company has a 50 day moving average of $20.84 and a two-hundred day 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 for the quarter, topping the consensus estimate of $0.24 by $0.09. The business had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. Sell-side analysts predict that TXO Partners, L.P. will post 1.35 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 12.50%. The ex-dividend date was Friday, May 17th. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is currently -44.44%.

Institutional Investors Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new position in TXO Partners during the 4th quarter worth approximately $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners during the 4th quarter worth about $690,000. Raymond James Financial Services Advisors Inc. grew its position in TXO Partners by 418.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after purchasing an additional 42,533 shares during the period. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners in the fourth quarter worth about $2,685,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners in the 4th quarter worth approximately $4,346,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

About TXO Partners

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.