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 TXO Partners stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28. Following the sale, the insider now directly owns 1,120,778 shares in the company, valued at approximately $20,611,107.42. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

TXO Partners Price Performance

TXO opened at $18.19 on Friday. The company has a 50-day moving average of $18.31 and a 200-day moving average of $18.18. The company has a market capitalization of $559.34 million, a P/E ratio of -5.48 and a beta of -0.18. TXO Partners, L.P. has a 1-year low of $17.20 and a 1-year high of $23.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating 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 business had revenue of $91.97 million during the quarter, compared to analyst estimates of $70.76 million. Equities analysts expect that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXO. Raymond James dropped their target price on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Stifel Nicolaus dropped their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Venturi Wealth Management LLC boosted its holdings in shares of TXO Partners by 64.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after buying an additional 900 shares during the period. Raymond James & Associates boosted its stake in TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after purchasing an additional 3,331 shares during the period. Brown Brothers Harriman & Co. acquired a new position in TXO Partners during the 4th quarter valued at about $183,000. Raymond James Financial Services Advisors Inc. acquired a new position in TXO Partners during the 3rd quarter valued at about $206,000. Finally, King Luther Capital Management Corp boosted its stake in TXO Partners by 0.6% during 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 purchasing an additional 15,000 shares during the period. 27.44% of the stock is owned by institutional investors and hedge funds.

TXO Partners Company Profile

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.