TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $951,719.28 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28. Following the sale, the insider now directly owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

TXO Partners Price Performance

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

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

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.58 dividend. The ex-dividend date was Thursday, March 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. This represents a $2.32 dividend on an annualized basis and a yield of 12.75%. TXO Partners’s dividend payout ratio (DPR) is presently -69.88%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus dropped their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Raymond James decreased their price target on shares of 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.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Venturi Wealth Management LLC boosted its position in shares of TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after purchasing an additional 900 shares in the last quarter. Raymond James & Associates boosted its position in shares of TXO Partners by 1.3% during the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after purchasing an additional 3,331 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of TXO Partners during the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of TXO Partners during the third quarter worth $206,000. Finally, King Luther Capital Management Corp boosted its position in shares of TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares in the last quarter. 27.44% of the stock is owned by institutional investors.

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.