Pin Oak Investment Advisors Inc. Buys New Stake in TXO Partners, L.P. (NYSE:TXO)

Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners, L.P. (NYSE:TXOFree Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 239,035 shares of the company’s stock, valued at approximately $4,346,000. TXO Partners makes up approximately 4.4% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 4th largest position. Pin Oak Investment Advisors Inc. owned 0.78% of TXO Partners at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new position in TXO Partners during the fourth quarter valued at $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the 4th quarter valued at about $690,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of TXO Partners by 418.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after acquiring an additional 42,533 shares during the last quarter. Hsbc Holdings PLC purchased a new position in TXO Partners in the fourth quarter worth about $2,685,000. Finally, King Luther Capital Management Corp increased its stake in TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after acquiring an additional 15,000 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at TXO Partners

In other TXO Partners news, major shareholder Global Endowment Management, L sold 51,752 shares of the business’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 transaction of $951,719.28. Following the completion of the transaction, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction of $951,719.28. Following the completion of the sale, the insider now directly owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $21.24, for a total value of $212,400.00. Following the sale, the director now directly owns 2,561,530 shares of the company’s stock, valued at $54,406,897.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 137,878 shares of company stock worth $2,583,684.

TXO Partners Trading Down 0.8 %

Shares of NYSE:TXO traded down $0.16 during trading on Tuesday, hitting $21.09. The company had a trading volume of 25,300 shares, compared to its average volume of 50,344. The stock has a market cap of $652.52 million, a price-to-earnings ratio of -3.61 and a beta of 0.09. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The company has a fifty day simple moving average of $21.06 and a two-hundred day simple moving average of $19.19. TXO Partners, L.P. has a one year low of $17.20 and a one year high of $23.56.

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

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.33%. TXO Partners’s payout ratio is currently -44.44%.

TXO Partners Company Profile

(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.

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

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