Keith A. Hutton Buys 878,000 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) insider Keith A. Hutton acquired 878,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the acquisition, the insider now directly owns 4,000,215 shares in the company, valued at approximately $80,004,300. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

TXO Partners Trading Up 0.8 %

Shares of TXO opened at $20.16 on Friday. TXO Partners, L.P. has a twelve month low of $17.20 and a twelve month high of $23.56. The stock has a market cap of $623.75 million, a PE ratio of -3.45 and a beta of 0.10. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $20.90 and its 200-day moving average price is $19.73.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $65.24 million. On average, equities analysts forecast that TXO Partners, L.P. will post 1.28 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.90%. The ex-dividend date was Friday, May 17th. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. bought a new stake in shares of TXO Partners in the 4th quarter worth approximately $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in TXO Partners in the fourth quarter worth $690,000. Raymond James Financial Services Advisors Inc. boosted its position in TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after buying an additional 42,533 shares during the period. Hsbc Holdings PLC bought a new position in shares of TXO Partners during the fourth quarter valued at about $2,685,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of TXO Partners in the fourth quarter worth about $4,346,000. 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.