TXO Partners, L.P. (NYSE:TXO) Sees Significant Drop in Short Interest

TXO Partners, L.P. (NYSE:TXO) was the recipient of a large decrease in short interest in March. As of March 15th, there was short interest totalling 193,800 shares, a decrease of 23.6% from the February 28th total of 253,600 shares. Based on an average trading volume of 126,300 shares, the short-interest ratio is presently 1.5 days. Approximately 0.6% of the company’s stock are sold short.

TXO Partners Price Performance

Shares of TXO stock traded down $0.52 on Wednesday, reaching $18.63. The company’s stock had a trading volume of 64,859 shares, compared to its average volume of 95,960. TXO Partners has a 1 year low of $15.22 and a 1 year high of $23.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock’s fifty day simple moving average is $19.28 and its 200-day simple moving average is $18.06. The company has a market capitalization of $766.96 million, a price-to-earnings ratio of -3.14 and a beta of 0.09.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million for the quarter, compared to the consensus estimate of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. Analysts forecast that TXO Partners will post 1.02 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were given a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.44 dividend on an annualized basis and a yield of 13.10%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is presently 353.62%.

Insider Transactions at TXO Partners

In other TXO Partners news, CFO Brent W. Clum sold 7,702 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $18.59, for a total transaction of $143,180.18. Following the completion of the sale, the chief financial officer now directly owns 470,337 shares in the company, valued at approximately $8,743,564.83. The trade was a 1.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary D. Simpson sold 31,517 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total transaction of $601,344.36. Following the completion of the transaction, the chief executive officer now owns 408,053 shares in the company, valued at $7,785,651.24. The trade was a 7.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,994 shares of company stock valued at $851,882.

Institutional Trading of TXO Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. raised its stake in shares of TXO Partners by 0.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company’s stock worth $4,915,000 after purchasing an additional 821 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of TXO Partners during the 4th quarter worth approximately $72,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in TXO Partners by 109.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock worth $150,000 after purchasing an additional 4,664 shares during the period. Sei Investments Co. grew its holdings in shares of TXO Partners by 4.2% during the 4th quarter. Sei Investments Co. now owns 123,094 shares of the company’s stock worth $2,073,000 after purchasing an additional 5,000 shares during the period. Finally, Glenmede Trust Co. NA lifted its stake in TXO Partners by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after purchasing an additional 5,831 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.