Insider Selling: TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells 41,978 Shares of 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 dated 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 sale, the insider now owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock 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 stock was 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 value of $951,719.28.

TXO Partners Price Performance

Shares of NYSE:TXO traded down $0.11 during mid-day trading on Monday, reaching $18.08. The stock had a trading volume of 90,900 shares, compared to its average volume of 40,969. The business’s 50 day moving average price is $18.31 and its 200 day moving average price is $18.16. TXO Partners, L.P. has a 1 year low of $17.20 and a 1 year high of $23.57. The company has a market cap of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. 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 issued 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. The business had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. Research analysts expect that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Raymond James dropped their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th. Stifel Nicolaus cut their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd.

Institutional Trading of TXO Partners

Hedge funds have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. bought a new stake in TXO Partners during the fourth quarter worth approximately $4,346,000. Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the 4th quarter worth approximately $2,685,000. Raymond James Financial Services Advisors Inc. increased its position in shares of TXO Partners by 418.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after purchasing an additional 42,533 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of TXO Partners during the 4th quarter valued at approximately $690,000. Finally, King Luther Capital Management Corp raised its holdings 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 buying an additional 15,000 shares during the period. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.