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

TXO Partners, L.P. (NYSE:TXO)’s share price gapped up before the market opened 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 trading hands.

TXO Partners Stock Up 0.4 %

The stock’s 50-day moving average price is $20.95 and its two-hundred day moving average price is $19.68. The stock has a market capitalization of $621.28 million, a P/E ratio of -3.42 and a beta of 0.10. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last released its 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 negative net margin of 61.27% and a positive return on equity of 7.94%. The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. As a group, research analysts expect that TXO Partners, L.P. will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.65 per share. This is an increase 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 12.95%. The ex-dividend date of this dividend was Friday, May 17th. TXO Partners’s dividend payout ratio is currently -44.44%.

Insider Activity

In other news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the completion of the transaction, the director now directly owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the transaction, the insider now directly owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total transaction of $222,000.00. Following the completion of the sale, the director now owns 2,581,530 shares in the company, valued at $57,309,966. The disclosure for this sale can be found here. Insiders sold 137,878 shares of company stock valued at $2,583,684 in the last three months.

Institutional Trading of TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. lifted its stake in 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 worth $958,000 after purchasing an additional 42,533 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners during the 4th quarter valued at $2,685,000. King Luther Capital Management Corp raised its position in shares of TXO Partners by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after buying an additional 15,000 shares in the last quarter. 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 $690,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners during the 4th quarter valued at $4,346,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.