TXO Partners, L.P. (NYSE:TXO) Shares Acquired by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. raised its holdings in shares of TXO Partners, L.P. (NYSE:TXO) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 291,882 shares of the company’s stock after buying an additional 821 shares during the quarter. TXO Partners comprises approximately 4.4% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 3rd largest holding. Pin Oak Investment Advisors Inc.’s holdings in TXO Partners were worth $4,915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of TXO. Glenmede Trust Co. NA lifted its stake in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after acquiring an additional 5,831 shares during the period. Clear Street Derivatives LLC acquired a new stake in TXO Partners during the 3rd quarter valued at approximately $8,059,000. CWA Asset Management Group LLC acquired a new stake in TXO Partners during the 4th quarter valued at approximately $654,000. Thurston Springer Miller Herd & Titak Inc. lifted its stake in TXO Partners by 109.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock valued at $150,000 after acquiring an additional 4,664 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in TXO Partners during the 4th quarter valued at approximately $505,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Price Performance

NYSE:TXO opened at $19.32 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $795.41 million, a price-to-earnings ratio of -3.25 and a beta of 0.13. The company has a 50 day moving average price of $19.20 and a 200-day moving average price of $17.96. TXO Partners, L.P. has a 1-year low of $15.22 and a 1-year high of $23.56.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. Equities research analysts forecast that TXO Partners, L.P. will post 1.02 EPS for the current year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 12.63%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, March 14th. TXO Partners’s payout ratio is 353.62%.

Insider Activity

In related news, CFO Brent W. Clum sold 7,702 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $18.59, for a total value of $143,180.18. Following the completion of the sale, the chief financial officer now owns 470,337 shares of the company’s stock, valued at approximately $8,743,564.83. The trade was a 1.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott T. Agosta sold 5,775 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $18.59, for a total transaction of $107,357.25. Following the completion of the sale, the chief accounting officer now directly owns 159,498 shares of the company’s stock, valued at approximately $2,965,067.82. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here.

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.