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 company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the transaction, the insider now directly owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own 10% or more of a company’s shares 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 shares were sold at an average price of $18.25, for a total value of $440,701.00.
• On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28.

TXO Partners Trading Down 1.5 %

TXO Partners stock opened at $17.81 on Wednesday. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market capitalization of $547.66 million, a PE ratio of -5.36 and a beta of -0.18. The firm has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $18.15.

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

Institutional Investors Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently modified their holdings of TXO. Venturi Wealth Management LLC increased its stake in TXO Partners by 64.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after purchasing an additional 900 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in shares of TXO Partners in the fourth quarter worth about $183,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of TXO Partners in the third quarter worth approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of TXO Partners in the fourth quarter worth approximately $690,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of TXO Partners in the 4th quarter valued at approximately $2,685,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TXO. Raymond James decreased their price objective on 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 lowered their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd.

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.