TXO Partners (NYSE:TXO) Trading Up 3.9%

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

TXO Partners Trading Up 3.6 %

The company has a market capitalization 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 quick ratio of 3.26 and a current ratio of 3.27. The business has a fifty day moving average price of $19.13 and a 200 day moving average price of $20.11.

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 the consensus estimate of $0.19 by ($0.10). TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. The company had revenue of $57.31 million during the quarter, compared to analyst estimates of $63.77 million. 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 announced a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis 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 related news, CEO Bob R. Simpson acquired 100,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was bought at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the acquisition, the chief executive officer now directly owns 4,500,000 shares in the company, valued at $90,000,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other TXO Partners news, CEO Bob R. Simpson acquired 100,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $20.00 per share, with a total value 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith A. Hutton purchased 878,000 shares of TXO Partners 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 $17,560,000.00. Following the completion of the transaction, the insider now owns 4,000,215 shares in the company, valued at approximately $80,004,300. The disclosure for this purchase can be found here.

Hedge Funds Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the fourth quarter worth approximately $183,000. Silverleafe Capital Partners LLC bought a new stake in shares of TXO Partners in the 2nd quarter worth $685,000. Hsbc Holdings PLC lifted its holdings in shares of TXO Partners by 89.6% in the second quarter. Hsbc Holdings PLC now owns 150,000 shares of the company’s stock valued at $3,020,000 after buying an additional 70,871 shares during the period. 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 valued at $4,727,000 after buying an additional 70,918 shares in the last quarter. Finally, Sei Investments Co. acquired a new position in TXO Partners during the second quarter worth about $2,126,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.