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

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 51,752 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,120,778 shares in the company, valued at $20,611,107.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

TXO Partners Price Performance

Shares of TXO opened at $18.19 on Friday. TXO Partners, L.P. has a fifty-two week low of $17.20 and a fifty-two week high of $23.57. The firm’s 50 day moving average price is $18.31 and its 200 day moving average price is $18.18. The company has a market cap of $559.34 million, a P/E ratio of -5.48 and a beta of -0.18. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million. On average, research analysts forecast that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 12.75%. The ex-dividend date was Thursday, March 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s payout ratio is -69.88%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its holdings in TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after acquiring an additional 900 shares in the last quarter. Raymond James & Associates grew its holdings in TXO Partners by 1.3% during 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. Brown Brothers Harriman & Co. acquired a new position in TXO Partners during the 4th quarter worth approximately $183,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of TXO Partners in the 3rd quarter valued at $206,000. Finally, King Luther Capital Management Corp boosted its holdings in shares of TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after buying an additional 15,000 shares in the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price target 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 cut their target price on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th.

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.