TXO Partners, L.P. (NYSE:TXO) Insider Purchases $17,560,000.00 in Stock

TXO Partners, L.P. (NYSE:TXO) insider Keith A. Hutton bought 878,000 shares of TXO Partners stock in a transaction dated Friday, June 28th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the transaction, the insider now owns 4,000,215 shares of the company’s stock, valued at approximately $80,004,300. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

TXO Partners Stock Up 0.8 %

Shares of NYSE TXO traded up $0.16 during trading on Friday, reaching $20.16. 146,100 shares of the stock were exchanged, compared to its average volume of 56,460. The company has a market capitalization of $623.75 million, a price-to-earnings ratio of -3.45 and a beta of 0.10. The business’s 50-day moving average price is $20.90 and its 200 day moving average price is $19.71. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. TXO Partners, L.P. has a twelve month low of $17.20 and a twelve month high of $23.56.

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

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.65 dividend. The ex-dividend date was Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a yield of 12.90%. TXO Partners’s dividend payout ratio is currently -44.44%.

Institutional Trading of TXO Partners

Institutional investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. bought a new stake in TXO Partners during the fourth quarter valued at $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in TXO Partners during the fourth quarter valued at $690,000. Raymond James Financial Services Advisors Inc. increased its stake in TXO Partners by 418.8% during the fourth 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 during the last quarter. Hsbc Holdings PLC bought a new stake in TXO Partners during the fourth quarter valued at $2,685,000. Finally, Pin Oak Investment Advisors Inc. bought a new stake in TXO Partners during the fourth quarter valued at $4,346,000. 27.44% of the stock is owned by institutional investors and hedge funds.

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.