Global Endowment Management, L Sells 1,500,000 Shares of TXO Partners L.P. (NYSE:TXO) Stock

TXO Partners L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 1,500,000 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $17.10, for a total value of $25,650,000.00. Following the sale, the insider now directly owns 1,139,098 shares in the company, valued at approximately $19,478,575.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

TXO Partners Stock Performance

NYSE TXO opened at $18.96 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86. TXO Partners L.P. has a twelve month low of $17.25 and a twelve month high of $25.00. The business’s fifty day moving average is $19.39 and its 200 day moving average is $20.49.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $69.87 million for the quarter, compared to the consensus estimate of $71.38 million. TXO Partners had a negative return on equity of 1.33% and a net margin of 20.38%. Equities analysts predict that TXO Partners L.P. will post 0.69 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Friday, November 17th will be given a dividend of $0.52 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 10.97%. The ex-dividend date of this dividend is Thursday, November 16th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. King Luther Capital Management Corp bought a new position in TXO Partners during the 1st quarter worth $59,544,000. CIBC Private Wealth Group LLC bought a new position in shares of TXO Partners in the 1st quarter worth about $23,053,000. Raymond James & Associates raised its position in shares of TXO Partners by 1.3% in the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after acquiring an additional 3,331 shares in the last quarter. Barclays PLC raised its position in shares of TXO Partners by 1.8% in the 2nd quarter. Barclays PLC now owns 233,565 shares of the company’s stock worth $5,057,000 after acquiring an additional 4,107 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in shares of TXO Partners in the 1st quarter worth about $1,542,000. 17.05% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James cut their price objective on TXO Partners from $34.00 to $30.00 and set a “strong-buy” rating on the stock in a report on Monday, July 24th. Stifel Nicolaus raised their price objective on TXO Partners from $27.00 to $28.00 and gave the company a “buy” rating in a report on Friday, August 25th.

About TXO Partners

TXO Partners L.P. 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.