Insider Buying: TXO Partners, L.P. (NYSE:TXO) Director Purchases 700,000 Shares of Stock

TXO Partners, L.P. (NYSE:TXO) Director Keith A. Hutton purchased 700,000 shares of the stock in a transaction on Thursday, May 15th. The stock was bought at an average price of $15.00 per share, for a total transaction of $10,500,000.00. Following the completion of the transaction, the director now directly owns 4,820,215 shares of the company’s stock, valued at approximately $72,303,225. This trade represents a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

TXO Partners Price Performance

NYSE:TXO opened at $15.18 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a market cap of $627.97 million, a PE ratio of -2.56 and a beta of 0.17. TXO Partners, L.P. has a 12 month low of $14.99 and a 12 month high of $22.84. The company’s 50-day moving average price is $17.62 and its two-hundred day moving average price is $18.02.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The firm had revenue of $84.33 million for the quarter, compared to analyst estimates of $82.00 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. On average, equities analysts anticipate that TXO Partners, L.P. will post 1.02 EPS for the current fiscal year.

TXO Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 16.07%. TXO Partners’s payout ratio is 580.95%.

Hedge Funds Weigh In On TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Merit Financial Group LLC acquired a new stake in shares of TXO Partners in the fourth quarter valued at $505,000. M&T Bank Corp acquired a new stake in TXO Partners in the 4th quarter valued at about $253,000. Childress Capital Advisors LLC bought a new position in shares of TXO Partners in the fourth quarter worth about $423,000. Boston Partners bought a new position in shares of TXO Partners in the fourth quarter worth about $375,000. Finally, Raymond James Financial Inc. acquired a new position in shares of TXO Partners during the fourth quarter worth approximately $4,609,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus began coverage on TXO Partners in a report on Wednesday, April 23rd. They set a “buy” rating and a $20.00 price objective for the company.

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.