TXO Partners, L.P. (NYSE:TXO) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in TXO Partners, L.P. (NYSE:TXO) by 1.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,561,530 shares of the company’s stock after selling 30,000 shares during the quarter. King Luther Capital Management Corp owned about 6.67% of TXO Partners worth $51,640,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Brown Brothers Harriman & Co. purchased a new position in shares of TXO Partners in the 4th quarter valued at approximately $183,000. Silverleafe Capital Partners LLC purchased a new position in shares of TXO Partners in the 2nd quarter valued at approximately $685,000. Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the 4th quarter valued at approximately $2,685,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of TXO Partners in the 4th quarter valued at approximately $4,346,000. Finally, Raymond James & Associates raised its position in shares of TXO Partners by 43.4% in the 2nd quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock valued at $4,727,000 after purchasing an additional 70,918 shares during the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

Insider Buying and Selling

In other TXO Partners news, CEO Bob R. Simpson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price 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 $90,000,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other TXO Partners news, CEO Bob R. Simpson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price 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 $90,000,000. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Keith A. Hutton purchased 878,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $17,560,000.00. Following the acquisition, the insider now owns 4,000,215 shares in the company, valued at approximately $80,004,300. The disclosure for this purchase can be found here.

TXO Partners Stock Performance

Shares of TXO Partners stock opened at $18.75 on Friday. The firm has a market capitalization of $720.19 million, a P/E ratio of -3.21 and a beta of 0.05. 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 company has a 50 day moving average price of $19.13 and a 200 day moving average price of $20.11. TXO Partners, L.P. has a 52 week low of $17.20 and a 52 week high of $23.56.

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

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were issued a $0.57 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $2.28 annualized dividend and a yield of 12.16%. TXO Partners’s dividend payout ratio (DPR) is presently -38.97%.

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.