TXO Partners (NYSE:TXO) Trading Up 6.8% – Still a Buy?

TXO Partners, L.P. (NYSE:TXO)’s share price shot up 6.8% during trading on Tuesday . The stock traded as high as $18.18 and last traded at $19.02. 98,530 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 106,743 shares. The stock had previously closed at $17.80.

TXO Partners Stock Down 0.2 %

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $778.03 million, a price-to-earnings ratio of -3.20 and a beta of 0.15. The business’s 50 day moving average price is $17.82 and its 200 day moving average price is $17.85.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The firm had revenue of $68.73 million during the quarter, compared to analysts’ expectations of $64.60 million. On average, equities analysts forecast that TXO Partners, L.P. will post 0.76 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a $0.58 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 dividend on an annualized basis and a yield of 12.20%. TXO Partners’s dividend payout ratio is presently -39.06%.

Insider Buying and Selling at TXO Partners

In related news, Director Keith A. Hutton bought 60,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the completion of the transaction, the director now directly owns 4,100,215 shares in the company, valued at $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Adams III purchased 14,000 shares of TXO Partners stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average price of $16.93 per share, with a total value of $237,020.00. Following the transaction, the director now owns 92,784 shares in the company, valued at approximately $1,570,833.12. The trade was a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 75,500 shares of company stock valued at $1,223,690.

Hedge Funds Weigh In On TXO Partners

Hedge funds have recently made changes to their positions in the company. Sei Investments Co. purchased a new stake in shares of TXO Partners during the second quarter worth approximately $2,126,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of TXO Partners during the third quarter worth $84,000. PFG Investments LLC acquired a new stake in shares of TXO Partners in the third quarter valued at about $639,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of TXO Partners in the third quarter worth about $559,000. Finally, Glenmede Trust Co. NA boosted its position in TXO Partners by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after acquiring an additional 5,831 shares during the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.