TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells $440,701.00 in Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 24,148 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the completion of the transaction, the insider now owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock 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 shares were sold at an average price of $18.03, for a total transaction of $756,863.34.
• 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 Price Performance

Shares of NYSE:TXO opened at $17.81 on Wednesday. The stock has a market capitalization of $547.66 million, a price-to-earnings ratio of -5.36 and a beta of -0.18. TXO Partners, L.P. has a one year low of $17.20 and a one year high of $23.57. The company has a 50-day simple moving average of $18.29 and a 200-day simple moving average of $18.15. 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.72. The firm 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%. On average, analysts predict that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared 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 is a boost from TXO Partners’s previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a yield of 13.03%. The ex-dividend date was Thursday, March 14th. TXO Partners’s dividend payout ratio is currently -69.88%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in TXO. Raymond James & Associates raised its holdings in TXO Partners by 1.3% during the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after purchasing an additional 3,331 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in TXO Partners during the third quarter worth about $206,000. Venturi Wealth Management LLC increased its holdings in TXO Partners by 64.3% in the third 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in TXO Partners in the fourth quarter valued at about $690,000. Finally, King Luther Capital Management Corp increased its holdings in TXO Partners by 0.6% in the fourth 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. 27.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TXO. Stifel Nicolaus reduced their target price 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. Raymond James reduced 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 report 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.