M&T Bank Corp Makes New Investment in TXO Partners, L.P. (NYSE:TXO)

M&T Bank Corp bought a new position in shares of TXO Partners, L.P. (NYSE:TXO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 15,000 shares of the company’s stock, valued at approximately $253,000.

Several other hedge funds have also recently bought and sold shares of the stock. Clear Street Derivatives LLC acquired a new stake in shares of TXO Partners in the third quarter valued at approximately $8,059,000. CWA Asset Management Group LLC acquired a new stake in shares of TXO Partners in the fourth quarter valued at approximately $654,000. Merit Financial Group LLC acquired a new stake in shares of TXO Partners in the fourth quarter valued at approximately $505,000. Childress Capital Advisors LLC acquired a new stake in shares of TXO Partners in the fourth quarter valued at approximately $423,000. Finally, Pin Oak Investment Advisors Inc. raised its holdings in shares of TXO Partners by 7.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after purchasing an additional 19,241 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Price Performance

NYSE TXO opened at $19.52 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners, L.P. has a 12-month low of $15.22 and a 12-month high of $23.56. The company has a market capitalization of $803.39 million, a PE ratio of -3.29 and a beta of 0.13. The firm’s 50 day moving average is $19.19 and its 200-day moving average is $17.95.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.13). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The firm had revenue of $83.68 million during the quarter, compared to the consensus estimate of $83.68 million. Equities research analysts anticipate that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 14th will be paid a $0.61 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a dividend yield of 12.50%. TXO Partners’s dividend payout ratio (DPR) is currently 353.62%.

Insider Activity at TXO Partners

In other TXO Partners news, CAO Scott T. Agosta sold 5,775 shares of TXO Partners stock in a transaction on Friday, January 31st. The shares were sold at an average price of $18.59, for a total transaction of $107,357.25. Following the completion of the transaction, the chief accounting officer now directly owns 159,498 shares of the company’s stock, valued at $2,965,067.82. The trade was a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brent W. Clum sold 7,702 shares of TXO Partners stock in a transaction on Friday, January 31st. The stock was sold at an average price of $18.59, for a total transaction of $143,180.18. Following the transaction, the chief financial officer now directly owns 470,337 shares of the company’s stock, valued at approximately $8,743,564.83. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders bought 75,500 shares of company stock valued at $1,223,690.

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.