Insider Selling: TXO Partners, L.P. (NYSE:TXO) Major Shareholder Sells 41,978 Shares of Stock

TXO Partners, L.P. (NYSE:TXO) major shareholder Global Endowment Management, L sold 41,978 shares of TXO Partners stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares in the company, valued at approximately $19,650,320.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major 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 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 value 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 value of $951,719.28.

TXO Partners Trading Down 0.6 %

Shares of TXO Partners stock traded down $0.11 on Monday, reaching $18.08. 90,900 shares of the company’s stock were exchanged, compared to its average volume of 40,969. The company has a market capitalization of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. TXO Partners, L.P. has a 52 week low of $17.20 and a 52 week high of $23.57. The firm’s 50-day moving average is $18.31 and its two-hundred day moving average is $18.16. 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 analysts’ consensus estimates of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. Sell-side analysts predict that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 dividend yield of 12.83%. 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 is presently -69.88%.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently modified their holdings of the business. Raymond James & Associates lifted its holdings in shares of TXO Partners by 1.3% in the 3rd 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. bought a new position in shares of TXO Partners in the 3rd quarter worth $206,000. Venturi Wealth Management LLC lifted 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 worth $47,000 after purchasing an additional 900 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new position in shares of TXO Partners in the 4th quarter worth $690,000. Finally, King Luther Capital Management Corp lifted its holdings in shares of TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TXO. Raymond James reduced their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th. Stifel Nicolaus cut their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock 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.