TXO Partners (NYSE:TXO) Sees Large Volume Increase

Shares of TXO Partners, L.P. (NYSE:TXO) saw strong trading volume on Thursday . 222,468 shares changed hands during mid-day trading, an increase of 332% from the previous session’s volume of 51,448 shares.The stock last traded at $20.35 and had previously closed at $20.60.

TXO Partners Trading Down 0.3 %

The company has a market capitalization of $635.51 million, a P/E ratio of -3.51 and a beta of 0.10. The business has a fifty day moving average price of $20.99 and a 200 day moving average price of $19.65. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The company had revenue of $67.44 million for the quarter, compared to analyst estimates of $65.24 million. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. On average, analysts expect that TXO Partners, L.P. will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were given a $0.65 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.66%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s payout ratio is currently -44.44%.

Insider Activity at TXO Partners

In related news, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $21.24, for a total value of $212,400.00. Following the sale, the director now owns 2,561,530 shares of the company’s stock, valued at $54,406,897.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $21.24, for a total transaction of $212,400.00. Following the transaction, the director now owns 2,561,530 shares of the company’s stock, valued at $54,406,897.20. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Global Endowment Management, L sold 24,148 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total value of $440,701.00. Following the transaction, the insider now directly owns 1,112,219 shares in the company, valued at approximately $20,297,996.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,878 shares of company stock valued at $2,583,684.

Institutional Investors Weigh In On TXO Partners

Several institutional investors have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. bought a new stake in shares of TXO Partners in the fourth quarter valued at approximately $183,000. King Luther Capital Management Corp lifted its stake 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 acquiring an additional 15,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of TXO Partners by 35.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after acquiring an additional 18,755 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of TXO Partners in the 4th quarter valued at $690,000. Finally, Energy Income Partners LLC lifted its stake in shares of TXO Partners by 37.7% in the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after acquiring an additional 135,029 shares during the last quarter. 27.44% of the stock is currently owned by 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.