TXO Partners (NYSE:TXO) Shares Gap Up to $20.00

Shares of TXO Partners, L.P. (NYSE:TXOGet Free Report) gapped up prior to trading on Friday . The stock had previously closed at $20.00, but opened at $20.55. TXO Partners shares last traded at $20.50, with a volume of 10,350 shares changing hands.

TXO Partners Trading Up 0.4 %

The firm has a market cap of $621.28 million, a PE ratio of -3.42 and a beta of 0.10. The business has a 50-day moving average price of $20.95 and a two-hundred day moving average price of $19.68. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36.

TXO Partners (NYSE:TXOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, beating 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 business had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. Analysts forecast that TXO Partners, L.P. will post 1.28 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a $0.65 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.95%. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is currently -44.44%.

Insider Activity

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of TXO Partners stock in a transaction dated 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 owns 1,120,778 shares in the company, valued at approximately $20,611,107.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $21.24, for a total transaction of $212,400.00. Following the completion of the sale, the director now owns 2,561,530 shares in the company, valued at approximately $54,406,897.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the sale, the insider now directly owns 1,120,778 shares in the company, valued at $20,611,107.42. The disclosure for this sale can be found here. Insiders sold a total of 137,878 shares of company stock worth $2,583,684 over the last 90 days.

Institutional Trading of TXO Partners

A number of hedge funds have recently added to or reduced their stakes in TXO. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the 4th quarter worth about $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners in the 4th quarter valued at about $690,000. Raymond James Financial Services Advisors Inc. lifted its stake 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 purchasing an additional 42,533 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of TXO Partners in the 4th quarter valued at about $2,685,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in shares of TXO Partners in the 4th quarter valued at about $4,346,000. 27.44% of the stock is owned by institutional investors and hedge funds.

TXO Partners Company Profile

(Get 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.

Further Reading

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