Bob R. Simpson Acquires 2,250,000 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) Director Bob R. Simpson acquired 2,250,000 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were bought at an average price of $15.00 per share, with a total value of $33,750,000.00. Following the completion of the transaction, the director now directly owns 6,750,000 shares of the company’s stock, valued at approximately $101,250,000. The trade was a 50.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

TXO Partners Trading Down 1.7%

Shares of TXO stock opened at $15.18 on Friday. The firm has a 50 day moving average price of $17.62 and a two-hundred day moving average price of $18.03. 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 company has a market capitalization 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.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.12). The company 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%. As a group, analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current year.

TXO Partners Announces Dividend

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TXO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of TXO Partners during the first quarter worth approximately $13,026,000. CIBC Private Wealth Group LLC increased its holdings in shares of TXO Partners by 41.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company’s stock worth $17,795,000 after purchasing an additional 313,049 shares during the period. Raymond James Financial Inc. bought a new position in shares of TXO Partners during the fourth quarter worth approximately $4,609,000. Total Wealth Planning & Management Inc. bought a new position in shares of TXO Partners during the fourth quarter worth approximately $1,517,000. Finally, Wealthedge Investment Advisors LLC bought a new position in shares of TXO Partners during the fourth quarter worth approximately $1,169,000. 27.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

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.