TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $756,863.34 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 41,978 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the transaction, the insider now owns 1,089,868 shares in the company, valued at approximately $19,650,320.04. The sale was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions 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 stock was sold at an average price of $18.25, for a total transaction 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 transaction of $951,719.28.

TXO Partners Stock Down 1.5 %

Shares of NYSE TXO opened at $17.81 on Wednesday. The stock has a market cap of $547.66 million, a PE ratio of -5.36 and a beta of -0.18. 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 12-month low of $17.20 and a 12-month high of $23.57. The company has a 50-day moving average of $18.29 and a 200 day moving average of $18.15.

TXO Partners (NYSE:TXO) last posted 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. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The business had revenue of $91.97 million during the quarter, compared to analyst estimates of $70.76 million. As a group, sell-side analysts predict that TXO Partners, L.P. will post 1.34 EPS 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 issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 13.03%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s payout ratio is currently -69.88%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TXO shares. 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 report on Tuesday, January 23rd. Raymond James reduced their price objective on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th.

Institutional Investors Weigh In On TXO Partners

Hedge funds have recently modified their holdings of the company. Venturi Wealth Management LLC grew its position in TXO Partners by 64.3% in the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after acquiring an additional 900 shares during the period. Brown Brothers Harriman & Co. acquired a new position in TXO Partners in the 4th quarter valued at about $183,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of TXO Partners in the third quarter valued at approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners in the fourth quarter valued at approximately $690,000. Finally, Hsbc Holdings PLC purchased a new stake in TXO Partners during the 4th quarter worth approximately $2,685,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.