Short Interest in TXO Partners, L.P. (NYSE:TXO) Drops By 23.3%

TXO Partners, L.P. (NYSE:TXO) was the target of a significant drop in short interest during the month of June. As of June 15th, there was short interest totalling 34,500 shares, a drop of 23.3% from the May 31st total of 45,000 shares. Based on an average daily trading volume, of 59,000 shares, the short-interest ratio is currently 0.6 days. Approximately 0.2% of the company’s shares are sold short.

Insider Buying and Selling

In other TXO Partners news, major shareholder Global Endowment Management, L sold 41,978 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $18.03, for a total transaction of $756,863.34. Following the sale, the insider now owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other TXO Partners news, major shareholder Global Endowment Management, L sold 41,978 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.03, for a total value of $756,863.34. Following the transaction, the insider now directly owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Keith A. Hutton acquired 878,000 shares of TXO Partners stock in a transaction dated Friday, June 28th. The shares were bought at an average cost of $20.00 per share, with a total value of $17,560,000.00. Following the transaction, the insider now owns 4,000,215 shares in the company, valued at $80,004,300. The disclosure for this purchase can be found here. Insiders sold 137,878 shares of company stock valued at $2,583,684 over the last quarter.

Institutional Trading of TXO Partners

Several institutional investors have recently made changes to their positions in TXO. Energy Income Partners LLC grew its holdings in shares of TXO Partners by 37.7% in the first 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 in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in TXO Partners by 35.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after purchasing an additional 18,755 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in TXO Partners in the 4th quarter valued at $4,346,000. Brown Brothers Harriman & Co. purchased a new stake in shares of TXO Partners during the 4th quarter valued at $183,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of TXO Partners during the 4th quarter valued at $2,685,000. Institutional investors own 27.44% of the company’s stock.

TXO Partners Stock Up 0.8 %

Shares of NYSE:TXO traded up $0.16 during trading on Friday, reaching $20.16. 151,000 shares of the stock were exchanged, compared to its average volume of 75,174. The stock has a fifty day moving average of $20.90 and a two-hundred day moving average of $19.71. TXO Partners has a 1-year low of $17.20 and a 1-year high of $23.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market cap of $623.75 million, a price-to-earnings ratio of -3.45 and a beta of 0.10.

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

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a yield of 12.90%. TXO Partners’s dividend payout ratio (DPR) is -44.44%.

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.