Global Endowment Management, L Sells 51,752 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 51,752 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the transaction, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

TXO Partners Price Performance

Shares of TXO Partners stock opened at $18.19 on Friday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $559.34 million, a PE ratio of -5.48 and a beta of -0.18. The business’s 50-day moving average price is $18.31 and its 200-day moving average price is $18.18. TXO Partners, L.P. has a 12 month low of $17.20 and a 12 month high of $23.57.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. Sell-side analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a dividend yield of 12.75%. TXO Partners’s dividend payout ratio is -69.88%.

Analyst Ratings Changes

TXO has been the topic of a number of research analyst reports. Raymond James decreased their target price on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus decreased their target price on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently modified their holdings of the company. King Luther Capital Management Corp boosted its holdings in TXO Partners by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after acquiring an additional 15,000 shares during the period. Raymond James & Associates boosted its holdings in TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after acquiring an additional 3,331 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the 4th quarter valued at about $4,346,000. Hsbc Holdings PLC purchased a new stake in TXO Partners during the 4th quarter valued at about $2,685,000. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in TXO Partners by 35.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after acquiring an additional 18,755 shares during the period. 27.44% of the stock is currently owned by institutional investors.

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.