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

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

Specifically, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the sale, the director now directly owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Luther King, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,878 shares of company stock worth $2,583,684.

TXO Partners Stock Performance

The stock’s 50 day moving average price is $20.90. 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 market capitalization of $645.72 million, a PE ratio of -3.45 and a beta of 0.06.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million for the quarter, compared to analyst estimates of $65.24 million. Equities research analysts expect 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. Stockholders of record on Monday, May 20th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.46%. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, May 17th. TXO Partners’s dividend payout ratio is -44.44%.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently bought and sold shares of TXO. Brown Brothers Harriman & Co. acquired a new position in shares of TXO Partners during the 4th quarter worth approximately $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in TXO Partners during the fourth quarter worth $690,000. Raymond James Financial Services Advisors Inc. grew its holdings in 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 buying an additional 42,533 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in shares of TXO Partners in the 4th quarter worth $2,685,000. Finally, Pin Oak Investment Advisors Inc. purchased a new position in shares of TXO Partners during the 4th quarter worth $4,346,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.