TXO Partners L.P. (NYSE:TXO) Insider Purchases $3,168,000.00 in Stock

TXO Partners L.P. (NYSE:TXO) insider Keith A. Hutton acquired 180,000 shares of TXO Partners stock in a transaction that occurred on Friday, November 10th. The shares were bought at an average cost of $17.60 per share, with a total value of $3,168,000.00. Following the transaction, the insider now owns 3,122,215 shares in the company, valued at $54,950,984. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Stock Up 1.5 %

TXO Partners stock opened at $18.96 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.04. TXO Partners L.P. has a one year low of $17.25 and a one year 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 firm had revenue of $69.87 million during the quarter, compared to analysts’ expectations of $71.38 million. TXO Partners had a negative return on equity of 1.33% and a net margin of 20.38%. Equities analysts anticipate that TXO Partners L.P. will post 0.69 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TXO. Venturi Wealth Management LLC purchased a new position in shares of TXO Partners during the 2nd quarter valued at about $30,000. Worth Asset Management LLC purchased a new position in shares of TXO Partners during the 2nd quarter valued at about $31,000. UBS Group AG purchased a new position in shares of TXO Partners during the 3rd quarter valued at about $51,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of TXO Partners during the 3rd quarter valued at about $206,000. Finally, HighTower Advisors LLC purchased a new position in shares of TXO Partners during the 1st quarter valued at about $251,000. 17.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TXO shares. Stifel Nicolaus upped their price target on shares of TXO Partners from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Raymond James lowered their price objective on TXO Partners from $34.00 to $30.00 and set a “strong-buy” rating on the stock in a research report on Monday, July 24th.

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.