TXO Partners (NYSE:TXO) Shares Gap Up to $18.09

TXO Partners, L.P. (NYSE:TXO)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.09, but opened at $18.75. TXO Partners shares last traded at $18.75, with a volume of 532 shares trading hands.

TXO Partners Price Performance

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 stock has a market cap of $720.19 million, a price-to-earnings ratio of -3.21 and a beta of 0.05. The business’s 50 day moving average is $19.13 and its 200 day moving average is $20.11.

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

TXO Partners Cuts Dividend

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

Insider Activity

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

Institutional Investors Weigh In On TXO Partners

Large investors have recently bought and sold shares of the business. Raymond James & Associates lifted its position in shares of TXO Partners by 43.4% in the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after buying an additional 70,918 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of TXO Partners in the 4th quarter valued at approximately $2,685,000. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the 4th quarter valued at approximately $4,346,000. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the 4th quarter worth approximately $183,000. Finally, American Century Companies Inc. boosted its position in TXO Partners by 1,127.0% during the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after purchasing an additional 942,295 shares during the period. 27.44% of the stock is currently owned by 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.