TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $440,701.00 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total value of $440,701.00. Following the transaction, the insider now owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Endowment Management, L also recently made the following trade(s):

• On Monday, May 6th, Global Endowment Management, L sold 41,978 shares of TXO Partners stock. The shares were sold at an average price of $18.03, for a total value of $756,863.34.
• On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The shares were sold at an average price of $18.39, for a total value of $951,719.28.

TXO Partners Stock Performance

Shares of TXO stock traded down $0.11 during trading hours on Monday, reaching $18.08. 90,900 shares of the company traded hands, compared to its average volume of 40,969. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The company has a market cap of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. The firm has a 50-day moving average price of $18.31 and a 200 day moving average price of $18.16.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.72. The business had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. As a group, sell-side analysts predict that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.58 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 12.83%. TXO Partners’s dividend payout ratio is presently -69.88%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TXO shares. Stifel Nicolaus dropped their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Raymond James dropped their target price on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently made changes to their positions in TXO. Venturi Wealth Management LLC raised its holdings in TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after buying an additional 900 shares during the period. Brown Brothers Harriman & Co. bought a new position in shares of TXO Partners during the fourth quarter valued at approximately $183,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of TXO Partners during the third quarter valued at approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of TXO Partners during the fourth quarter valued at approximately $690,000. Finally, Hsbc Holdings PLC bought a new position in shares of TXO Partners during the fourth quarter valued at approximately $2,685,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

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.