Empirical Financial Services LLC d.b.a. Empirical Wealth Management Purchases New Shares in TXO Partners, L.P. (NYSE:TXO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of TXO Partners, L.P. (NYSE:TXO) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 37,933 shares of the company’s stock, valued at approximately $690,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned 0.12% of TXO Partners at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. bought a new position in TXO Partners during the 3rd quarter valued at approximately $206,000. Venturi Wealth Management LLC increased its holdings in shares of TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after acquiring an additional 900 shares in the last quarter. Finally, Raymond James & Associates raised its position 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 during the last quarter. Institutional investors own 27.44% of the company’s stock.

Insider Buying and Selling at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the sale, the insider now owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 117,878 shares of company stock worth $2,149,284.

TXO Partners Trading Up 6.8 %

TXO Partners stock opened at $19.02 on Thursday. TXO Partners, L.P. has a one year low of $17.20 and a one year high of $23.57. The business’s fifty day moving average is $18.32 and its 200 day moving average is $18.16. The stock has a market capitalization of $584.87 million, a PE ratio of -5.73 and a beta of -0.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last announced 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 negative net margin of 27.31% and a positive return on equity of 6.89%. The firm had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million. On average, sell-side analysts predict that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 13.67%. The ex-dividend date is Friday, May 17th. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s payout ratio is -69.88%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TXO shares. Raymond James cut their price objective on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Stifel Nicolaus reduced 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 report on Tuesday, January 23rd.

TXO Partners 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.