TXO Partners (NYSE:TXO) Trading 3.9% Higher

TXO Partners, L.P. (NYSE:TXO)’s share price shot up 3.9% on Thursday . The stock traded as high as $18.84 and last traded at $18.80. 67,495 shares traded hands during trading, an increase of 8% from the average session volume of 62,672 shares. The stock had previously closed at $18.09.

TXO Partners Stock Up 3.6 %

The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $720.19 million, a PE ratio of -3.21 and a beta of 0.05. The business has a 50-day moving average price of $19.13 and a 200-day moving average price of $20.11.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. The company had revenue of $57.31 million during the quarter, compared to analysts’ expectations of $63.77 million. Equities research analysts forecast that TXO Partners, L.P. will post 1.48 earnings per share for the current fiscal year.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 12.16%. The ex-dividend date of this dividend was Tuesday, August 20th. TXO Partners’s payout ratio is currently -38.97%.

Insiders Place Their Bets

In other news, CEO Bob R. Simpson purchased 100,000 shares of TXO Partners stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $20.00 per share, with a total value of $2,000,000.00. Following the transaction, the chief executive officer now owns 4,500,000 shares in the company, valued at $90,000,000. The purchase was disclosed in a document filed with the SEC, which is available through this link. In other TXO Partners news, CEO Bob R. Simpson purchased 100,000 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the acquisition, the chief executive officer now owns 4,500,000 shares in the company, valued at approximately $90,000,000. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Keith A. Hutton acquired 878,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $20.00 per share, with a total value of $17,560,000.00. Following the completion of the transaction, the insider now directly owns 4,000,215 shares in the company, valued at approximately $80,004,300. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds have recently made changes to their positions in TXO. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners in the fourth quarter valued at approximately $183,000. Silverleafe Capital Partners LLC acquired a new stake in shares of TXO Partners in the second quarter valued at $685,000. Sei Investments Co. acquired a new stake in shares of TXO Partners in the second quarter valued at $2,126,000. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners in the 4th quarter valued at $2,685,000. Finally, Westwood Holdings Group Inc. acquired a new position in TXO Partners during the 2nd quarter worth about $4,032,000. Hedge funds and other institutional investors 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.