TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $440,701.00 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% 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 Stock Down 1.5 %

Shares of NYSE TXO opened at $17.81 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a market capitalization of $547.66 million, a price-to-earnings ratio of -5.36 and a beta of -0.18. The stock has a 50 day moving average price of $18.29 and a 200 day moving average price of $18.15. TXO Partners, L.P. has a 52-week low of $17.20 and a 52-week high of $23.57.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72. The firm had revenue of $91.97 million during 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 expect that TXO Partners, L.P. will post 1.34 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 13.03%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio is currently -69.88%.

Wall Street Analyst Weigh In

TXO has been the subject of several recent analyst reports. Stifel Nicolaus dropped their target price 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 target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

Institutional Trading of TXO Partners

A number of hedge funds have recently bought and sold shares of TXO. Venturi Wealth Management LLC lifted its holdings in 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 buying an additional 900 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners during the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. purchased a new stake in TXO Partners during the third quarter worth $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in TXO Partners during the fourth quarter worth $690,000. Finally, Hsbc Holdings PLC acquired a new position in shares of TXO Partners during the fourth quarter worth $2,685,000. Hedge funds and other 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.