TXO Partners (NYSE:TXO) Trading Up 3.9%

TXO Partners, L.P. (NYSE:TXO) shares were up 3.9% on Thursday . The company traded as high as $18.84 and last traded at $18.80. Approximately 67,495 shares traded hands during mid-day trading, an increase of 8% from the average daily volume of 62,672 shares. The stock had previously closed at $18.09.

TXO Partners Stock Performance

The stock has a 50-day moving average of $19.13 and a 200 day moving average of $20.11. 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 quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01.

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

TXO Partners Cuts Dividend

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

Insider Buying and Selling at TXO Partners

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TXO. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners in the 4th quarter valued at approximately $183,000. Silverleafe Capital Partners LLC purchased a new position in TXO Partners in the 2nd quarter valued at about $685,000. Sei Investments Co. acquired a new stake in shares of TXO Partners during the 2nd quarter worth about $2,126,000. Hsbc Holdings PLC acquired a new stake in shares of TXO Partners during the 4th quarter worth about $2,685,000. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of TXO Partners during the second quarter worth about $4,032,000. 27.44% of the stock is 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.