Insider Selling: TXO Partners (NYSE:TXO) CEO Sells 27,234 Shares of Stock

TXO Partners LP (NYSE:TXO) CEO Brent Clum sold 27,234 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $12.38, for a total transaction of $337,156.92. Following the completion of the sale, the chief executive officer owned 800,340 shares of the company’s stock, valued at $9,908,209.20. This trade represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

TXO Partners Trading Up 1.0%

NYSE:TXO traded up $0.13 during trading hours on Thursday, hitting $12.51. The company had a trading volume of 32,947 shares, compared to its average volume of 212,971. The company has a 50-day moving average of $12.42 and a 200 day moving average of $12.47. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.42. The company has a market cap of $691.00 million, a P/E ratio of -29.09 and a beta of 0.04. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $18.91.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.67). TXO Partners had a negative return on equity of 2.03% and a negative net margin of 5.39%.The firm had revenue of $125.93 million for the quarter, compared to analyst estimates of $111.09 million. Sell-side analysts expect that TXO Partners LP will post 1.02 earnings per share for the current year.

TXO Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.6%. The ex-dividend date was Tuesday, March 10th. TXO Partners’s payout ratio is -279.07%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC acquired a new position in TXO Partners during the 2nd quarter worth $380,000. M&T Bank Corp raised its position in TXO Partners by 33.3% in the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock valued at $301,000 after purchasing an additional 5,000 shares in the last quarter. First Trust Advisors LP acquired a new stake in TXO Partners in the 2nd quarter valued at about $5,830,000. Marathon Capital Management boosted its stake in shares of TXO Partners by 40.0% in the 2nd quarter. Marathon Capital Management now owns 35,000 shares of the company’s stock valued at $526,000 after buying an additional 10,000 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of TXO Partners by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after buying an additional 35,990 shares in the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Stifel Nicolaus boosted their target price on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Weiss Ratings cut TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. Finally, Raymond James Financial set a $18.00 price target on TXO Partners in a research report on Tuesday, January 27th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

TXO Partners Company Profile

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.