TXO Partners, L.P. (NYSE:TXO) Sees Significant Drop in Short Interest

TXO Partners, L.P. (NYSE:TXO) was the recipient of a large decline in short interest in March. As of March 15th, there was short interest totalling 193,800 shares, a decline of 23.6% from the February 28th total of 253,600 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average trading volume of 126,300 shares, the short-interest ratio is currently 1.5 days.

TXO Partners Price Performance

Shares of NYSE TXO traded up $0.02 during mid-day trading on Tuesday, reaching $19.18. 85,263 shares of the company traded hands, compared to its average volume of 96,078. TXO Partners has a fifty-two week low of $15.22 and a fifty-two week high of $23.56. The firm has a market cap of $789.44 million, a PE ratio of -3.23 and a beta of 0.13. The stock has a fifty day simple moving average of $19.28 and a 200-day simple moving average of $18.06. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share (EPS) 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 analyst estimates 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 anticipate that TXO Partners will post 1.02 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 12.72%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, March 14th. TXO Partners’s dividend payout ratio is presently 353.62%.

Insider Buying and Selling at TXO Partners

In related news, CAO Scott T. Agosta sold 5,775 shares of TXO Partners stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $18.59, for a total transaction of $107,357.25. Following the sale, the chief accounting officer now directly owns 159,498 shares in the company, valued at $2,965,067.82. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $601,344.36. Following the completion of the sale, the chief executive officer now directly owns 408,053 shares of the company’s stock, valued at $7,785,651.24. The trade was a 7.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,994 shares of company stock valued at $851,882 in the last quarter.

Hedge Funds Weigh In On TXO Partners

Several large investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC boosted its holdings in TXO Partners by 41.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company’s stock worth $17,795,000 after buying an additional 313,049 shares in the last quarter. Clear Street Derivatives LLC bought a new stake in shares of TXO Partners during the 3rd quarter worth $8,059,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of TXO Partners by 0.3% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company’s stock worth $4,915,000 after acquiring an additional 821 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of TXO Partners during the fourth quarter worth $4,609,000. Finally, Sei Investments Co. lifted its holdings in shares of TXO Partners by 4.2% during the fourth quarter. Sei Investments Co. now owns 123,094 shares of the company’s stock valued at $2,073,000 after purchasing an additional 5,000 shares during the last quarter. Institutional investors own 27.44% of the company’s stock.

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.