King Luther Capital Management Corp Boosts Stock Position in TXO Partners, L.P. (NYSE:TXO)

King Luther Capital Management Corp raised its stake in TXO Partners, L.P. (NYSE:TXO) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,591,530 shares of the company’s stock after acquiring an additional 15,000 shares during the period. King Luther Capital Management Corp owned 8.43% of TXO Partners worth $47,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Venturi Wealth Management LLC boosted its stake 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 acquiring an additional 900 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of TXO Partners during the third quarter worth about $206,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of TXO Partners during the fourth quarter worth about $690,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Insider Activity at TXO Partners

In related news, major shareholder Global Endowment Management, L sold 24,148 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total value of $440,701.00. Following the completion of the sale, the insider now owns 1,112,219 shares in the company, valued at $20,297,996.75. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 117,878 shares of company stock worth $2,149,284 over the last 90 days.

TXO Partners Stock Performance

NYSE:TXO traded down $0.12 during mid-day trading on Wednesday, reaching $22.28. The stock had a trading volume of 63,336 shares, compared to its average volume of 50,836. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market capitalization of $689.34 million, a price-to-earnings ratio of -3.85 and a beta of -0.18. TXO Partners, L.P. has a twelve month low of $17.20 and a twelve month high of $23.56. The business has a 50 day simple moving average of $19.54 and a 200 day simple moving average of $18.59.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. On average, analysts expect that TXO Partners, L.P. will post 1.33 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Monday, May 20th will be given a $0.65 dividend. The ex-dividend date is Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a yield of 11.67%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TXO shares. Raymond James decreased 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 research note on Wednesday, January 24th. Stifel Nicolaus decreased their target price 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.