TXO Partners (NYSE:TXO) Sees Strong Trading Volume

Shares of TXO Partners, L.P. (NYSE:TXO) saw unusually-strong trading volume on Wednesday . Approximately 25,532 shares were traded during mid-day trading, a decline of 57% from the previous session’s volume of 58,965 shares.The stock last traded at $20.79 and had previously closed at $20.80.

TXO Partners Stock Up 1.4 %

The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The firm has a market capitalization of $652.52 million, a P/E ratio of -3.60 and a beta of 0.06. The company’s 50-day simple moving average is $20.84 and its two-hundred day simple moving average is $19.79.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.09. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. The business had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.24 million. As a group, research analysts expect that TXO Partners, L.P. will post 1.35 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 12.33%. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insider Activity

In other news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the sale, the director now directly owns 2,581,530 shares in the company, valued at approximately $57,309,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the sale, the director now directly owns 2,581,530 shares in the company, valued at approximately $57,309,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28. Following the sale, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The disclosure for this sale can be found here. Insiders have sold 137,878 shares of company stock worth $2,583,684 in the last three months.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. purchased a new position in TXO Partners during the fourth quarter valued at $183,000. King Luther Capital Management Corp grew its stake in TXO Partners by 0.6% during 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 acquiring an additional 15,000 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in TXO Partners by 35.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after acquiring an additional 18,755 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in TXO Partners during the fourth quarter valued at $690,000. Finally, Energy Income Partners LLC grew its stake in TXO Partners by 37.7% during the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after acquiring an additional 135,029 shares in the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

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.