TXO Partners (NYSE:TXO) Sees Large Volume Increase

TXO Partners, L.P. (NYSE:TXO) saw unusually-strong trading volume on Wednesday . Approximately 191,785 shares were traded during mid-day trading, an increase of 211% from the previous session’s volume of 61,748 shares.The stock last traded at $21.46 and had previously closed at $20.52.

TXO Partners Trading Up 3.0 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50-day moving average of $20.80 and a two-hundred day moving average of $20.00. The company has a market cap of $653.76 million, a P/E ratio of -3.54 and a beta of 0.05.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The business had revenue of $67.44 million during the quarter, compared to analyst estimates of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. On average, equities research analysts predict that TXO Partners, L.P. will post 1.63 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a $0.65 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 12.30%. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insider Activity

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of TXO Partners stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $21.24, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Global Endowment Management, L sold 51,752 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28. Following the sale, the insider now owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The disclosure for this sale can be found here. Insiders have sold a total of 137,878 shares of company stock valued at $2,583,684 over the last ninety days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of TXO. Raymond James Financial Services Advisors Inc. increased its stake in shares of TXO Partners by 418.8% in the fourth 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the fourth quarter worth about $690,000. 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 valued at $47,114,000 after purchasing an additional 15,000 shares during the period. Hsbc Holdings PLC bought a new position in TXO Partners in the 4th quarter worth approximately $2,685,000. Finally, Brown Brothers Harriman & Co. bought a new position in shares of TXO Partners during the fourth quarter worth $183,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.