Insider Buying: TXO Partners, L.P. (NYSE:TXO) Insider Purchases 500,000 Shares of Stock

TXO Partners, L.P. (NYSE:TXO) insider Luther King, Jr. purchased 500,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $15.00 per share, with a total value of $7,500,000.00. Following the completion of the acquisition, the insider now owns 3,061,530 shares of the company’s stock, valued at approximately $45,922,950. The trade was a 19.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

TXO Partners Stock Performance

NYSE TXO opened at $15.20 on Wednesday. TXO Partners, L.P. has a fifty-two week low of $14.85 and a fifty-two week high of $22.70. The stock has a market cap of $628.79 million, a price-to-earnings ratio of -2.56 and a beta of 0.17. The business has a fifty day moving average of $17.44 and a 200-day moving average of $18.03. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

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

TXO Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be paid a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 16.05%. TXO Partners’s payout ratio is currently 580.95%.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the business. Merit Financial Group LLC acquired a new position in TXO Partners in the fourth quarter valued at $505,000. M&T Bank Corp acquired a new position in TXO Partners in the fourth quarter valued at $253,000. Childress Capital Advisors LLC acquired a new position in TXO Partners in the fourth quarter valued at $423,000. Boston Partners acquired a new stake in TXO Partners during the fourth quarter worth about $375,000. Finally, Raymond James Financial Inc. acquired a new stake in TXO Partners during the fourth quarter worth about $4,609,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.