Empirical Financial Services LLC d.b.a. Empirical Wealth Management Takes Position in TXO Partners, L.P. (NYSE:TXO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in TXO Partners, L.P. (NYSE:TXO) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 37,933 shares of the company’s stock, valued at approximately $690,000.

A number of other hedge funds also recently bought and sold shares of the business. Raymond James & Associates raised its stake in shares of TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after buying an additional 3,331 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after acquiring an additional 42,533 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after purchasing an additional 900 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Insiders Place Their Bets

In other TXO Partners news, major shareholder Global Endowment Management, L sold 24,148 shares of the firm’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total value of $440,701.00. Following the completion of the sale, the insider now directly owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 117,878 shares of company stock valued at $2,149,284.

Wall Street Analyst Weigh In

A number of analysts have recently commented on TXO shares. Raymond James cut their target price on shares of 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 price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd.

TXO Partners Trading Up 6.8 %

Shares of TXO opened at $19.02 on Thursday. TXO Partners, L.P. has a 52-week low of $17.20 and a 52-week high of $23.57. The stock has a market cap of $584.87 million, a PE ratio of -5.73 and a beta of -0.18. The firm’s fifty day moving average is $18.32 and its two-hundred day moving average is $18.16. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. Research analysts forecast that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be given a dividend of $0.65 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a yield of 13.67%. TXO Partners’s dividend payout ratio (DPR) is presently -69.88%.

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.