Global Endowment Management, L Sells 41,978 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 41,978 shares of TXO Partners stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the transaction, the insider now directly owns 1,089,868 shares in the company, valued at $19,650,320.04. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Major 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 Thursday, May 2nd, Global Endowment Management, L sold 24,148 shares of TXO Partners stock. The shares were sold at an average price of $18.25, for a total value of $440,701.00.
• 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 Stock Performance

Shares of TXO stock opened at $17.81 on Wednesday. The company’s fifty day moving average price is $18.29 and its two-hundred day moving average price is $18.15. 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 firm has a market capitalization of $547.66 million, a P/E ratio of -5.36 and a beta of -0.18. 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 issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $91.97 million during the quarter, compared to the consensus estimate of $70.76 million. On average, research analysts anticipate that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared 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 represents a $2.32 dividend on an annualized basis and a dividend yield of 13.03%. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is presently -69.88%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James reduced their price objective 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 lowered their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its stake in shares of TXO Partners by 35.6% in 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 purchasing an additional 18,755 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in TXO Partners in the fourth quarter valued at about $4,346,000. Brown Brothers Harriman & Co. bought a new stake in TXO Partners in the fourth quarter valued at about $183,000. Hsbc Holdings PLC acquired a new stake in TXO Partners during the fourth quarter valued at approximately $2,685,000. Finally, King Luther Capital Management Corp lifted 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 worth $47,114,000 after buying an additional 15,000 shares during the last quarter. 27.44% of the stock is currently 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.