TXO Partners (NYSE:TXO) Stock Price Down 2.9%

Shares of TXO Partners, L.P. (NYSE:TXO) were down 2.9% during mid-day trading on Thursday . The stock traded as low as $20.00 and last traded at $20.01. Approximately 741,248 shares were traded during mid-day trading, an increase of 1,966% from the average daily volume of 35,887 shares. The stock had previously closed at $20.60.

TXO Partners Stock Down 2.9 %

The stock has a market cap of $618.80 million, a PE ratio of -3.42 and a beta of 0.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The company has a 50 day moving average price of $20.95 and a two-hundred day moving average price of $19.68.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.09. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. The business had revenue of $67.44 million for the quarter, compared to analysts’ expectations of $65.24 million. Analysts expect that TXO Partners, L.P. will post 1.28 EPS for the current year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a $0.65 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a yield of 13.00%. TXO Partners’s dividend payout ratio is currently -44.44%.

Insider Buying and Selling

In other TXO Partners news, major shareholder Global Endowment Management, L sold 24,148 shares of the firm’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 transaction of $440,701.00. Following the sale, the insider now owns 1,112,219 shares in the company, valued at approximately $20,297,996.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $21.24, for a total transaction of $212,400.00. Following the sale, the director now owns 2,561,530 shares in the company, valued at $54,406,897.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Global Endowment Management, L sold 24,148 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,878 shares of company stock valued at $2,583,684.

Institutional Trading of TXO Partners

Hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its position in TXO Partners by 418.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after purchasing an additional 42,533 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of TXO Partners in the 4th quarter worth about $2,685,000. King Luther Capital Management Corp raised its position in shares of 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 valued at $47,114,000 after buying an additional 15,000 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the 4th quarter valued at about $690,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the 4th quarter valued at about $4,346,000. 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.