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

TXO Partners, L.P. (NYSE:TXO)’s share price 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.

TXO Partners Price Performance

The stock has a market cap of $720.19 million, a PE 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. The company has a 50 day moving average price of $19.13 and a two-hundred day moving average price of $20.11.

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

TXO Partners Cuts Dividend

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

Insider Activity

In other news, insider Keith A. Hutton acquired 878,000 shares of TXO Partners stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $20.00 per share, with a total value of $17,560,000.00. Following the completion of the purchase, 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 available through the SEC website. In other TXO Partners news, insider Keith A. Hutton purchased 878,000 shares of the company’s stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the purchase, the insider now directly owns 4,000,215 shares of the company’s stock, valued at approximately $80,004,300. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Bob R. Simpson bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,500,000 shares of the company’s stock, valued at approximately $90,000,000. The disclosure for this purchase can be found here.

Institutional Trading of TXO Partners

Hedge funds have recently made changes to their positions in the business. American Century Companies Inc. raised its position in TXO Partners by 1,127.0% during the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock valued at $20,682,000 after purchasing an additional 942,295 shares during the period. Energy Income Partners LLC lifted its position in TXO Partners by 37.7% in the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after buying an additional 135,029 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners during the fourth quarter worth $4,346,000. Raymond James & Associates boosted its stake in TXO Partners by 43.4% during the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after buying an additional 70,918 shares during the period. Finally, Westwood Holdings Group Inc. bought a new position in TXO Partners during the second quarter valued at $4,032,000. 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.