Keith A. Hutton Buys 180,000 Shares of TXO Partners L.P. (NYSE:TXO) Stock

TXO Partners L.P. (NYSE:TXO) insider Keith A. Hutton purchased 180,000 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was bought at an average price of $17.60 per share, for a total transaction of $3,168,000.00. Following the transaction, the insider now directly owns 3,122,215 shares of the company’s stock, valued at approximately $54,950,984. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

TXO Partners Price Performance

Shares of TXO stock opened at $18.96 on Thursday. The business’s 50-day moving average price is $19.39 and its 200-day moving average price is $20.49. TXO Partners L.P. has a 12 month low of $17.25 and a 12 month high of $25.00. 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 (NYSE:TXO) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.06). TXO Partners had a net margin of 20.38% and a negative return on equity of 1.33%. The firm had revenue of $69.87 million for the quarter, compared to analyst estimates of $71.38 million. As a group, equities analysts expect that TXO Partners L.P. will post 0.69 earnings per share for the current year.

TXO Partners Increases Dividend

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

Institutional Trading of TXO Partners

A number of hedge funds have recently made changes to their positions in TXO. Stifel Financial Corp raised its position in shares of TXO Partners by 46.4% during the third quarter. Stifel Financial Corp now owns 41,835 shares of the company’s stock worth $850,000 after acquiring an additional 13,260 shares during the last quarter. UBS Group AG bought a new position in shares of TXO Partners during the third quarter worth about $51,000. Venturi Wealth Management LLC raised its position in shares of TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after acquiring an additional 900 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new position in shares of TXO Partners during the third quarter worth about $206,000. Finally, Raymond James & Associates raised its position in shares of TXO Partners by 1.3% during the third 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 during the last quarter. 17.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TXO has been the topic of several research analyst reports. Stifel Nicolaus raised their price objective on TXO Partners from $27.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Raymond James reduced their price objective on TXO Partners from $34.00 to $30.00 and set a “strong-buy” rating on the stock in a research note on Monday, July 24th.

TXO Partners Company Profile

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.