TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $756,863.34 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 41,978 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Global Endowment Management, L also recently made the following trade(s):

• On Thursday, May 2nd, Global Endowment Management, L sold 24,148 shares of TXO Partners stock. The shares were sold at an average price of $18.25, for a total value of $440,701.00.
• On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28.

TXO Partners Trading Down 0.6 %

Shares of NYSE TXO traded down $0.11 during midday trading on Monday, hitting $18.08. The company’s stock had a trading volume of 90,900 shares, compared to its average volume of 40,969. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.57. The firm has a market cap of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. The business’s 50 day moving average is $18.31 and its two-hundred day moving average is $18.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The company had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. As a group, equities research analysts expect that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.58 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.32 annualized dividend and a yield of 12.83%. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio is -69.88%.

Wall Street Analysts Forecast Growth

TXO has been the topic of a number of research reports. Stifel Nicolaus reduced their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Raymond James reduced their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in TXO Partners by 35.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after purchasing an additional 18,755 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in TXO Partners in the fourth quarter worth approximately $4,346,000. Brown Brothers Harriman & Co. bought a new position in TXO Partners in the fourth quarter worth approximately $183,000. Hsbc Holdings PLC bought a new stake in TXO Partners during the 4th quarter valued at $2,685,000. Finally, King Luther Capital Management Corp boosted its position in 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 acquiring an additional 15,000 shares in the last quarter. Institutional investors 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.