239,035 Shares in TXO Partners, L.P. (NYSE:TXO) Bought by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. acquired a new position in shares of TXO Partners, L.P. (NYSE:TXO) during the 4th quarter, Holdings Channel.com reports. The firm acquired 239,035 shares of the company’s stock, valued at approximately $4,346,000. TXO Partners makes up 4.4% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 4th biggest holding.

Several other hedge funds have also added to or reduced their stakes in the business. King Luther Capital Management Corp raised its stake 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 worth $47,114,000 after buying an additional 15,000 shares during the period. Hsbc Holdings PLC acquired a new stake in TXO Partners during the 4th quarter worth $2,685,000. Raymond James Financial Services Advisors Inc. raised its stake in 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 worth $958,000 after buying an additional 42,533 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners during the 4th quarter worth $690,000. Finally, Brown Brothers Harriman & Co. acquired a new stake in TXO Partners during the 4th quarter worth $183,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

TXO Partners Trading Down 0.8 %

TXO Partners stock traded down $0.16 during mid-day trading on Tuesday, hitting $21.09. 25,300 shares of the company’s stock were exchanged, compared to its average volume of 50,344. The company’s 50 day simple moving average is $21.06 and its 200-day simple moving average is $19.19. TXO Partners, L.P. has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The firm has a market capitalization of $652.52 million, a P/E ratio of -3.61 and a beta of 0.09. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.24 million. On average, equities analysts anticipate that TXO Partners, L.P. will post 1.28 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.65 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 annualized dividend and a dividend yield of 12.33%. TXO Partners’s dividend payout ratio (DPR) is currently -44.44%.

Insider Buying and Selling at TXO Partners

In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the sale, the director now owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the sale, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction dated Thursday, May 2nd. The shares were 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 in the company, valued at approximately $20,297,996.75. The disclosure for this sale can be found here. Insiders have sold 137,878 shares of company stock valued at $2,583,684 in the last 90 days.

TXO Partners 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.