TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume

TXO Partners, L.P. (NYSE:TXO) shares saw an uptick in trading volume on Monday . 28,616 shares changed hands during mid-day trading, a decline of 29% from the previous session’s volume of 40,108 shares.The stock last traded at $18.11 and had previously closed at $18.19.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TXO shares. Raymond James reduced their target price on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th. Stifel Nicolaus lowered their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

TXO Partners Price Performance

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average is $18.31. The company has a market capitalization of $555.96 million, a PE ratio of -5.45 and a beta of -0.18.

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

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 12.83%. The ex-dividend date of this dividend was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is currently -69.88%.

Insider Buying and Selling at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’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 completion of the transaction, the insider now directly owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Hedge Funds Weigh In On TXO Partners

Large investors have recently modified their holdings of the business. Raymond James & Associates increased its position in shares of TXO Partners by 1.3% in the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after acquiring an additional 3,331 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of TXO Partners during the 3rd quarter worth approximately $206,000. Venturi Wealth Management LLC increased its position in shares of TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of TXO Partners during the 4th quarter worth approximately $690,000. Finally, King Luther Capital Management Corp boosted its holdings in shares of 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 valued at $47,114,000 after buying an additional 15,000 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.