Global Endowment Management, L Sells 41,978 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 41,978 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $18.03, for a total transaction of $756,863.34. Following the completion of the sale, the insider now directly owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Global Endowment Management, L also recently made the following trade(s):

• On Thursday, May 2nd, Global Endowment Management, L sold 24,148 shares of TXO Partners stock. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00.
• On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The stock was sold at an average price of $18.39, for a total transaction of $951,719.28.

TXO Partners Trading Down 1.5 %

Shares of TXO Partners stock opened at $17.81 on Wednesday. The stock has a market capitalization of $547.66 million, a P/E ratio of -5.36 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. The company has a 50-day simple moving average of $18.29 and a 200 day simple moving average of $18.15. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.57.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.72. The business had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. Research analysts expect 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 announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $0.58 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 13.03%. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is -69.88%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TXO shares. Raymond James reduced their price objective on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus reduced their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds have recently made changes to their positions in TXO. Venturi Wealth Management LLC increased its position in 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 acquiring an additional 900 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the 4th quarter valued at about $183,000. Raymond James Financial Services Advisors Inc. acquired a new stake in TXO Partners in the 3rd quarter valued at about $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners in the 4th quarter valued at about $690,000. Finally, Hsbc Holdings PLC acquired a new stake in TXO Partners in the 4th quarter valued at about $2,685,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.