TXO Partners (NYSE:TXO) Sees Strong Trading Volume

Shares of TXO Partners, L.P. (NYSE:TXO) saw unusually-high trading volume on Thursday . Approximately 26,692 shares were traded during trading, a decline of 61% from the previous session’s volume of 67,852 shares.The stock last traded at $20.42 and had previously closed at $20.38.

TXO Partners Stock Down 1.1 %

The firm has a 50 day simple moving average of $20.46 and a two-hundred day simple moving average of $20.79. The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $774.35 million, a P/E ratio of -3.51 and a beta of 0.05.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). The company had revenue of $57.31 million during the quarter, compared to the consensus estimate of $63.77 million. TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. On average, equities research analysts expect that TXO Partners, L.P. will post 1.48 earnings per share for the current year.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th will be given a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a dividend yield of 11.31%. The ex-dividend date of this dividend is Tuesday, August 20th. TXO Partners’s payout ratio is -44.44%.

Insider Buying and Selling at TXO Partners

In related news, insider Keith A. Hutton bought 878,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the transaction, the insider now directly owns 4,000,215 shares in the company, valued at approximately $80,004,300. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, insider Keith A. Hutton acquired 878,000 shares of the stock in a transaction dated Friday, June 28th. The shares were purchased at an average price of $20.00 per share, for a total transaction of $17,560,000.00. Following the transaction, the insider now owns 4,000,215 shares in the company, valued at approximately $80,004,300. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Bob R. Simpson bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $2,000,000.00. Following the transaction, the chief executive officer now owns 4,500,000 shares in the company, valued at $90,000,000. The disclosure for this purchase can be found here.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. American Century Companies Inc. raised its holdings in TXO Partners by 1,127.0% in the 2nd quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after purchasing an additional 942,295 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the fourth quarter worth about $4,346,000. Westwood Holdings Group Inc. purchased a new position in shares of TXO Partners during the 2nd quarter valued at about $4,032,000. Hsbc Holdings PLC bought a new position in shares of TXO Partners during the 4th quarter valued at approximately $2,685,000. Finally, Energy Income Partners LLC increased its holdings in TXO Partners by 37.7% in the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after acquiring an additional 135,029 shares in the last quarter. 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.