Merit Financial Group LLC Invests $505,000 in TXO Partners, L.P. (NYSE:TXO)

Merit Financial Group LLC purchased a new stake in TXO Partners, L.P. (NYSE:TXO) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 30,000 shares of the company’s stock, valued at approximately $505,000. Merit Financial Group LLC owned approximately 0.07% of TXO Partners at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners in the 3rd quarter valued at $84,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners during the 3rd quarter valued at about $559,000. PFG Investments LLC acquired a new position in TXO Partners in the third quarter valued at about $639,000. CWA Asset Management Group LLC bought a new stake in TXO Partners during the fourth quarter worth about $654,000. Finally, Glenmede Trust Co. NA increased its holdings in shares of TXO Partners by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after buying an additional 5,831 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Stock Up 1.1 %

Shares of TXO opened at $19.40 on Friday. The company has a market capitalization of $793.45 million, a P/E ratio of -3.27 and a beta of 0.15. TXO Partners, L.P. has a one year low of $15.22 and a one year high of $23.56. The business’s 50 day simple moving average is $17.53 and its 200-day simple moving average is $17.84. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $68.73 million during the quarter, compared to the consensus estimate of $64.60 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. As a group, sell-side analysts predict that TXO Partners, L.P. will post 0.76 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a dividend of $0.58 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 11.96%. TXO Partners’s dividend payout ratio is -39.06%.

Insiders Place Their Bets

In other news, Director Keith A. Hutton bought 60,000 shares of the stock in a transaction dated Wednesday, December 18th. The stock was bought at an average cost of $16.04 per share, with a total value of $962,400.00. Following the purchase, the director now owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. This represents a 1.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William H. Adams III purchased 14,000 shares of the business’s stock in a transaction dated Monday, December 30th. The shares were purchased at an average cost of $16.93 per share, for a total transaction of $237,020.00. Following the purchase, the director now directly owns 92,784 shares of the company’s stock, valued at $1,570,833.12. This trade represents a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased a total of 75,500 shares of company stock valued at $1,223,690 in the last 90 days.

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.