TXO Partners (NYSE:TXO) Shares Gap Down to $21.93

Shares of TXO Partners, L.P. (NYSE:TXO) gapped down prior to trading on Wednesday . The stock had previously closed at $21.93, but opened at $20.10. TXO Partners shares last traded at $21.48, with a volume of 53,505 shares.

TXO Partners Trading Down 5.2 %

The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06. The company has a market cap of $643.24 million, a PE ratio of -3.55 and a beta of 0.10. The business’s 50-day simple moving average is $21.05 and its 200-day simple moving average is $19.61.

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

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were given a $0.65 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a yield of 12.51%. TXO Partners’s dividend payout ratio is presently -44.44%.

Insider Activity

In other news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $21.24, for a total transaction of $212,400.00. Following the transaction, the director now owns 2,561,530 shares in the company, valued at approximately $54,406,897.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the transaction, the insider now directly owns 1,120,778 shares in the company, valued at approximately $20,611,107.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $21.24, for a total transaction of $212,400.00. Following the completion of the sale, the director now owns 2,561,530 shares in the company, valued at $54,406,897.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 137,878 shares of company stock worth $2,583,684.

Institutional Trading of TXO Partners

Several hedge funds and other institutional investors have recently bought and sold shares of TXO. Raymond James Financial Services Advisors Inc. grew its position in TXO Partners by 418.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after purchasing an additional 42,533 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners in the 4th quarter worth $690,000. King Luther Capital Management Corp grew its position in TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of TXO Partners during the 4th quarter worth about $2,685,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of TXO Partners during the 4th quarter worth about $183,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.