TXO Partners, L.P. (NYSE:TXO) Major Shareholder Global Endowment Management, L Sells 24,148 Shares

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total value of $440,701.00. Following the sale, the insider now directly owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Monday, May 6th, Global Endowment Management, L sold 41,978 shares of TXO Partners stock. The stock was sold at an average price of $18.03, for a total value of $756,863.34.
• 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 value of $951,719.28.

TXO Partners Price Performance

Shares of TXO 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. TXO Partners, L.P. has a twelve month low of $17.20 and a twelve month high of $23.57. The company has a 50 day moving average of $18.29 and a 200-day moving average of $18.15. 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 released its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.26 by $0.72. The company had revenue of $91.97 million during the quarter, compared to the consensus estimate of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. As a group, equities research analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 13.03%. The ex-dividend date was Thursday, March 14th. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio is presently -69.88%.

Institutional Investors Weigh In On TXO Partners

Large investors have recently made changes to their positions in the stock. 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 last quarter. Brown Brothers Harriman & Co. bought a new position in TXO Partners during the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. bought a new position in TXO Partners during the third quarter worth $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in TXO Partners during the fourth quarter worth $690,000. Finally, Hsbc Holdings PLC bought a new position in TXO Partners during the fourth quarter worth $2,685,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Analysts Set New Price Targets

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