TXO Partners (NYSE:TXO) Sees Large Volume Increase

TXO Partners, L.P. (NYSE:TXO) saw unusually-strong trading volume on Friday . Approximately 184,386 shares changed hands during trading, an increase of 180% from the previous session’s volume of 65,953 shares.The stock last traded at $19.40 and had previously closed at $20.23.

TXO Partners Stock Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50-day moving average of $20.71 and a 200-day moving average of $20.58. The company has a market capitalization of $606.11 million, a P/E ratio of -3.35 and a beta of 0.05.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, topping 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 analysts’ expectations of $65.24 million. On average, sell-side analysts anticipate that TXO Partners, L.P. will post 1.55 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 13.27%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio is presently -44.44%.

Insider Buying and Selling

In related news, CEO Bob R. Simpson purchased 100,000 shares of the business’s 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 $2,000,000.00. Following the completion of the acquisition, the chief executive officer now owns 4,500,000 shares in the company, valued at approximately $90,000,000. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Bob R. Simpson acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average price of $20.00 per share, with a total value of $2,000,000.00. Following the completion of the purchase, the chief executive officer now directly owns 4,500,000 shares in the company, valued at $90,000,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The disclosure for this sale can be found here. In the last three months, insiders sold 61,978 shares of company stock valued at $1,191,263.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently bought and sold shares of TXO. Raymond James Financial Services Advisors Inc. boosted 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 position in shares of TXO Partners during the 4th quarter valued at approximately $2,685,000. King Luther Capital Management Corp raised its position in shares of TXO Partners by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after acquiring an additional 15,000 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in TXO Partners in the fourth quarter valued at approximately $4,346,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners during the 4th quarter worth approximately $690,000. 27.44% of the stock is 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.