TXO Partners (NYSE:TXO) Shares Gap Up After Insider Buying Activity

TXO Partners, L.P. (NYSE:TXO)’s stock price gapped up before the market opened on Friday following insider buying activity. The stock had previously closed at $14.83, but opened at $15.31. TXO Partners shares last traded at $15.15, with a volume of 335,554 shares trading hands.

Specifically, Director Phillip R. Kevil purchased 3,000 shares of TXO Partners stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average price of $15.18 per share, for a total transaction of $45,540.00. Following the transaction, the director now owns 27,384 shares of the company’s stock, valued at approximately $415,689.12. The trade was a 12.30% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Keith A. Hutton acquired 700,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $15.00 per share, for a total transaction of $10,500,000.00. Following the completion of the purchase, the director now directly owns 4,820,215 shares of the company’s stock, valued at $72,303,225. The trade was a 16.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. In related news, Director Lawrence S. Massaro bought 20,000 shares of the firm’s stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now owns 23,900 shares in the company, valued at $358,500. This represents a 512.82% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus assumed coverage on shares of TXO Partners in a report on Wednesday, April 23rd. They set a “buy” rating and a $20.00 price target on the stock.

TXO Partners Trading Down 1.7%

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $17.62 and its 200 day moving average price is $18.02. The company has a market capitalization of $627.97 million, a P/E ratio of -2.56 and a beta of 0.17.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The firm had revenue of $84.33 million during the quarter, compared to the consensus estimate of $82.00 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. As a group, equities research analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current year.

TXO Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 16.07%. The ex-dividend date is Friday, May 16th. TXO Partners’s dividend payout ratio (DPR) is currently 580.95%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently made changes to their positions in TXO. CWM LLC bought a new stake in TXO Partners in the 1st quarter worth $77,000. Wilmington Savings Fund Society FSB purchased a new position in TXO Partners in the fourth quarter worth about $72,000. Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of TXO Partners by 109.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock valued at $150,000 after purchasing an additional 4,664 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of TXO Partners during the first quarter valued at approximately $216,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of TXO Partners during the first quarter valued at approximately $230,000. Institutional investors 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.