TXO Partners, L.P. (NYSE:TXO) Insider Buys $17,560,000.00 in Stock

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

TXO Partners Stock Performance

NYSE:TXO opened at $20.16 on Friday. The firm has a 50-day moving average of $20.90 and a two-hundred day moving average of $19.73. 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 stock has a market cap of $623.75 million, a P/E ratio of -3.45 and a beta of 0.10. TXO Partners, L.P. has a 1-year low of $17.20 and a 1-year high of $23.56.

TXO Partners (NYSE:TXO) last posted its quarterly 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 firm had revenue of $67.44 million for the quarter, compared to analysts’ expectations of $65.24 million. On average, research analysts expect that TXO Partners, L.P. will post 1.28 earnings per share for the current fiscal 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 12.90%. The ex-dividend date of this dividend 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 currently -44.44%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners during the fourth quarter worth about $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of TXO Partners during the 4th quarter worth approximately $690,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of TXO Partners by 418.8% in the 4th 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 acquired a new position in TXO Partners during the 4th quarter valued at approximately $2,685,000. Finally, Pin Oak Investment Advisors Inc. bought a new position in TXO Partners during the 4th quarter worth $4,346,000. Institutional investors and hedge funds 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.