Wells Fargo & Company MN Trims Stock Position in TXO Partners, L.P. (NYSE:TXO)

Wells Fargo & Company MN cut its position in TXO Partners, L.P. (NYSE:TXO) by 94.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,090 shares of the company’s stock after selling 133,348 shares during the quarter. Wells Fargo & Company MN’s holdings in TXO Partners were worth $136,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of TXO Partners by 109.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock valued at $150,000 after buying an additional 4,664 shares during the period. Merit Financial Group LLC purchased a new stake in shares of TXO Partners during the 4th quarter worth approximately $505,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of TXO Partners by 28.2% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 50,000 shares of the company’s stock worth $842,000 after acquiring an additional 11,000 shares during the period. Childress Capital Advisors LLC purchased a new stake in TXO Partners during the fourth quarter worth $423,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in TXO Partners in the fourth quarter valued at $72,000. 27.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stifel Nicolaus started coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They set a “buy” rating and a $20.00 target price for the company.

TXO Partners Stock Performance

NYSE TXO opened at $17.07 on Friday. TXO Partners, L.P. has a twelve month low of $15.22 and a twelve month high of $23.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The business’s 50-day moving average price is $17.94 and its 200 day moving average price is $17.99. The company has a market capitalization of $706.15 million, a PE ratio of -2.87 and a beta of 0.17.

TXO Partners (NYSE:TXO) last posted its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The business had revenue of $84.33 million for the quarter, compared to analyst estimates of $82.00 million. On average, research analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current year.

TXO Partners Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 14.29%. The ex-dividend date of this dividend is Friday, May 16th. TXO Partners’s dividend payout ratio is presently 580.95%.

Insider Buying and Selling at TXO Partners

In related news, CEO Gary D. Simpson sold 31,517 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the transaction, the chief executive officer now owns 408,053 shares of the company’s stock, valued at approximately $7,785,651.24. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

About TXO Partners

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.