Global Endowment Management, L Sells 24,148 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total value of $440,701.00. Following the sale, the insider now directly owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Endowment Management, L also recently made the following trade(s):

• On Monday, May 6th, Global Endowment Management, L sold 41,978 shares of TXO Partners stock. The shares were sold at an average price of $18.03, for a total value of $756,863.34.
• On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The shares were sold at an average price of $18.39, for a total value of $951,719.28.

TXO Partners Trading Down 1.5 %

NYSE TXO opened at $17.81 on Wednesday. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. TXO Partners, L.P. has a 1-year low of $17.20 and a 1-year high of $23.57. The firm’s fifty day simple moving average is $18.29 and its 200-day simple moving average is $18.15. The company has a market capitalization of $547.66 million, a PE ratio of -5.36 and a beta of -0.18.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The company had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. As a group, 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. Investors of record on Friday, March 15th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 13.03%. The ex-dividend date was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is presently -69.88%.

Institutional Trading of TXO Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC raised its holdings in shares of TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in TXO Partners during the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of TXO Partners in the third quarter worth about $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of TXO Partners during the 4th quarter worth about $690,000. Finally, Hsbc Holdings PLC acquired a new position in shares of TXO Partners during the 4th quarter valued at about $2,685,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TXO has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Raymond James lowered their price objective on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th.

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.