Global Endowment Management, L Sells 51,752 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction 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 in the company, valued at $20,611,107.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

TXO Partners Stock Down 1.4 %

Shares of TXO traded down $0.25 during trading hours on Thursday, reaching $18.26. 46,600 shares of the stock traded hands, compared to its average volume of 40,191. 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 has a fifty day simple moving average of $18.29 and a 200 day simple moving average of $18.20. TXO Partners, L.P. has a 52 week low of $17.20 and a 52 week high of $23.57. The company has a market cap of $561.50 million, a price-to-earnings ratio of -5.50 and a beta of -0.18.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, beating 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 company had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. On average, equities analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 12.71%. The ex-dividend date was Thursday, March 14th. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is -69.88%.

Wall Street Analyst Weigh In

TXO has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note 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 on the stock in a research report on Wednesday, January 24th.

Institutional Trading of TXO Partners

A number of large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. increased its holdings in TXO Partners by 35.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after buying an additional 18,755 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the fourth quarter worth about $4,346,000. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners during the fourth quarter worth about $183,000. Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the fourth quarter worth about $2,685,000. Finally, King Luther Capital Management Corp increased its stake in shares of TXO Partners by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.