TXO Partners, L.P. (NYSE:TXO) Shares Sold by Global Endowment Management LP

Global Endowment Management LP decreased its stake in TXO Partners, L.P. (NYSE:TXOFree Report) by 31.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,074,864 shares of the company’s stock after selling 968,368 shares during the quarter. TXO Partners accounts for about 4.2% of Global Endowment Management LP’s investment portfolio, making the stock its 6th largest holding. Global Endowment Management LP owned 0.07% of TXO Partners worth $37,721,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. acquired a new stake in TXO Partners during the 3rd quarter worth about $206,000. King Luther Capital Management Corp raised its stake in shares of TXO Partners by 0.6% during 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. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the 4th quarter worth about $690,000. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners during the 4th quarter worth about $2,685,000. Finally, Brown Brothers Harriman & Co. purchased a new stake in shares of TXO Partners during the 4th quarter worth about $183,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Stock Up 1.2 %

Shares of TXO traded up $0.25 during midday trading on Friday, reaching $21.48. 29,600 shares of the stock were exchanged, compared to its average volume of 96,860. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.56. The firm has a 50 day simple moving average of $20.55 and a 200-day simple moving average of $18.97. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. The company has a market cap of $664.59 million, a price-to-earnings ratio of -3.67 and a beta of -0.18.

TXO Partners (NYSE:TXOGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The company had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. Research analysts forecast that TXO Partners, L.P. will post 1.28 EPS for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.10%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insider Activity at TXO Partners

In related news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the transaction, the director now directly owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other TXO Partners news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the sale, the insider now owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,581,530 shares in the company, valued at approximately $57,309,966. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,878 shares of company stock valued at $2,583,684.

About TXO Partners

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for TXO Partners (NYSE:TXO)

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