TXO Partners (NYSE:TXO) Shares Gap Up to $18.09

Shares of TXO Partners, L.P. (NYSE:TXO) gapped up prior to trading on Friday . The stock had previously closed at $18.09, but opened at $18.75. TXO Partners shares last traded at $18.75, with a volume of 532 shares trading hands.

TXO Partners Stock Performance

The firm’s fifty day moving average price is $19.13 and its 200-day moving average price is $20.11. The company has a market cap of $720.19 million, a price-to-earnings ratio of -3.21 and a beta of 0.05. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 3.26.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). The firm had revenue of $57.31 million during the quarter, compared to analyst estimates of $63.77 million. TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. On average, equities analysts expect that TXO Partners, L.P. will post 1.48 EPS for the current fiscal year.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were paid a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.28 annualized dividend and a dividend yield of 12.16%. TXO Partners’s payout ratio is -38.97%.

Insider Activity

In related news, CEO Bob R. Simpson purchased 100,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer now owns 4,500,000 shares of the company’s stock, valued at $90,000,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Bob R. Simpson acquired 100,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $2,000,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,500,000 shares in the company, valued at approximately $90,000,000. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Keith A. Hutton bought 878,000 shares of the firm’s 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 purchase, the insider now directly owns 4,000,215 shares of the company’s stock, valued at $80,004,300. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On TXO Partners

Several hedge funds have recently made changes to their positions in TXO. Hsbc Holdings PLC bought a new stake in TXO Partners during the fourth quarter worth approximately $2,685,000. Brown Brothers Harriman & Co. bought a new stake in shares of TXO Partners during the 4th quarter worth $183,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the 4th quarter worth $4,346,000. Energy Income Partners LLC raised its position in shares of TXO Partners by 37.7% during the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after purchasing an additional 135,029 shares during the period. Finally, Raymond James & Associates lifted its holdings in shares of TXO Partners by 43.4% during the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock valued at $4,727,000 after purchasing an additional 70,918 shares during the last quarter. 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.