Insider Selling: TXO Partners, L.P. (NYSE:TXO) CEO Sells 31,517 Shares of Stock

TXO Partners, L.P. (NYSE:TXO) CEO Gary D. Simpson sold 31,517 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total value of $601,344.36. Following the transaction, the chief executive officer now directly owns 408,053 shares of the company’s stock, valued at approximately $7,785,651.24. This represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

TXO Partners Stock Up 0.1 %

TXO stock traded up $0.02 during trading on Tuesday, hitting $19.18. 85,263 shares of the company’s stock were exchanged, compared to its average volume of 95,880. The business has a 50-day moving average price of $19.27 and a two-hundred day moving average price of $18.05. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $789.44 million, a price-to-earnings ratio of -3.23 and a beta of 0.13. TXO Partners, L.P. has a 52-week low of $15.22 and a 52-week high of $23.56.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data 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 company had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $83.68 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. As a group, equities research analysts expect 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 was paid on Friday, March 21st. Stockholders of record on Friday, March 14th were given a dividend of $0.61 per share. The ex-dividend date was Friday, March 14th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 12.72%. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s payout ratio is 353.62%.

Institutional Trading of TXO Partners

Large investors have recently made changes to their positions in the company. Glenmede Trust Co. NA lifted its stake in TXO Partners by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after buying an additional 5,831 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in shares of TXO Partners in the 3rd quarter valued at $8,059,000. CWA Asset Management Group LLC purchased a new stake in TXO Partners in the 4th quarter valued at $654,000. Thurston Springer Miller Herd & Titak Inc. boosted 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 worth $150,000 after purchasing an additional 4,664 shares during the period. Finally, Merit Financial Group LLC purchased a new position in TXO Partners during the 4th quarter worth $505,000. 27.44% of the stock is owned by institutional investors and hedge funds.

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.