TXO Partners (NYSE:TXO) Stock Price Up 4.2% After Insider Buying Activity

Shares of TXO Partners, L.P. (NYSE:TXO) traded up 4.2% on Monday after an insider bought additional shares in the company. The company traded as high as $21.35 and last traded at $21.01. 30,882 shares traded hands during mid-day trading, a decline of 45% from the average session volume of 56,182 shares. The stock had previously closed at $20.16.

Specifically, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28. Following the transaction, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction on Friday, May 24th. The stock was sold at an average price of $21.24, for a total value of $212,400.00. Following the transaction, the director now directly owns 2,561,530 shares in the company, valued at approximately $54,406,897.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Endowment Management, L sold 51,752 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the sale, the insider now owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 137,878 shares of company stock worth $2,583,684.

TXO Partners Price Performance

The stock has a market cap of $645.72 million, a price-to-earnings ratio of -3.45 and a beta of 0.06. 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 has a fifty day moving average price of $20.90.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating 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 company had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. As a group, sell-side analysts forecast that TXO Partners, L.P. will post 1.35 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 12.46%. 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. TXO Partners’s payout ratio is -44.44%.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXO. Raymond James Financial Services Advisors Inc. raised its position 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 valued at $958,000 after purchasing an additional 42,533 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the fourth quarter worth $2,685,000. King Luther Capital Management Corp lifted its stake in shares of TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after buying an additional 15,000 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the fourth quarter valued at $690,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in shares of TXO Partners in the 4th quarter valued at $4,346,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.