Global Endowment Management, L Sells 24,148 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the sale, the insider now directly owns 1,112,219 shares in the company, valued at approximately $20,297,996.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own at least 10% of a company’s shares 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 transaction 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 Down 0.6 %

Shares of NYSE:TXO traded down $0.11 during trading on Monday, hitting $18.08. The company’s stock had a trading volume of 90,900 shares, compared to its average volume of 40,969. The business has a 50 day moving average price of $18.31 and a two-hundred day moving average price of $18.16. The company has a market capitalization of $555.96 million, a PE ratio of -5.45 and a beta of -0.18. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41. TXO Partners, L.P. has a fifty-two week low of $17.20 and a fifty-two week high of $23.57.

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

TXO Partners Increases Dividend

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

Institutional Investors Weigh In On TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Venturi Wealth Management LLC lifted its position in TXO Partners by 64.3% in the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after acquiring an additional 900 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners in the fourth quarter valued at $183,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of TXO Partners during the third quarter worth about $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of TXO Partners during the fourth quarter worth about $690,000. Finally, Hsbc Holdings PLC purchased a new stake in TXO Partners in the 4th quarter valued at approximately $2,685,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TXO has been the topic of a number of research analyst reports. Stifel Nicolaus cut their target price 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 price target on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th.

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.