TXO Partners (NYSE:TXO) Trading 4.2% Higher After Insider Buying Activity

TXO Partners, L.P. (NYSE:TXO)’s stock price shot up 4.2% on Monday following insider buying activity. The stock traded as high as $21.35 and last traded at $21.01. 30,882 shares changed hands during trading, a decline of 45% from the average session volume of 56,182 shares. The stock had previously closed at $20.16.

Specifically, major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total value of $440,701.00. Following the completion of the transaction, the insider now owns 1,112,219 shares in the company, valued at approximately $20,297,996.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the transaction, the director now owns 2,581,530 shares in the company, valued at approximately $57,309,966. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Global Endowment Management, L sold 24,148 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total value of $440,701.00. Following the completion of the transaction, the insider now directly owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The disclosure for this sale can be found here. Insiders have sold 137,878 shares of company stock worth $2,583,684 in the last ninety days.

TXO Partners Stock Up 3.5 %

The company has a market cap of $645.72 million, a price-to-earnings ratio of -3.45 and a beta of 0.06. The firm’s 50 day moving average price is $20.90. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. The company had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. As a group, equities analysts anticipate that TXO Partners, L.P. will post 1.35 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a dividend of $0.65 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 dividend on an annualized basis and a yield of 12.46%. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Institutional Trading of TXO Partners

A number of hedge funds and other institutional investors have recently modified their holdings of TXO. Raymond James Financial Services Advisors Inc. grew its holdings in TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after acquiring an additional 42,533 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners in the 4th quarter worth approximately $690,000. King Luther Capital Management Corp raised its holdings in shares of TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in TXO Partners during the fourth quarter valued at approximately $2,685,000. Finally, Brown Brothers Harriman & Co. bought a new stake in TXO Partners during the fourth quarter worth approximately $183,000. Institutional investors own 27.44% of the company’s stock.

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.