TXO Partners (NYSE:TXO) Shares Down 4.2%

TXO Partners, L.P. (NYSE:TXO) fell 4.2% during mid-day trading on Tuesday . The stock traded as low as $19.46 and last traded at $19.47. 69,183 shares traded hands during mid-day trading, a decline of 0% from the average session volume of 69,305 shares. The stock had previously closed at $20.32.

TXO Partners Price Performance

The company has a market cap of $611.33 million, a P/E ratio of -3.34 and a beta of 0.05. The company has a fifty day simple moving average of $20.39 and a 200-day simple moving average of $20.86. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 3.26.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The firm had revenue of $57.31 million for the quarter, compared to analysts’ expectations of $63.77 million. On average, sell-side analysts predict that TXO Partners, L.P. will post 1.48 earnings per share for the current year.

TXO Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 11.54%. The ex-dividend date of this dividend is Tuesday, August 20th. TXO Partners’s dividend payout ratio is currently -38.97%.

Insider Activity

In other TXO Partners news, insider Keith A. Hutton acquired 878,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the acquisition, the insider now owns 4,000,215 shares of the company’s stock, valued at approximately $80,004,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Keith A. Hutton bought 878,000 shares of the business’s stock in a transaction on Friday, June 28th. The stock was purchased at an average price of $20.00 per share, with a total value of $17,560,000.00. Following the transaction, the insider now directly owns 4,000,215 shares in the company, valued at $80,004,300. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the transaction, the director now directly owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The disclosure for this sale can be found here.

Institutional Trading of TXO Partners

Several large investors have recently added to or reduced their stakes in the company. 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 worth $47,114,000 after buying an additional 15,000 shares during the last quarter. American Century Companies Inc. grew its stake in shares of TXO Partners by 1,127.0% during the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock valued at $20,682,000 after purchasing an additional 942,295 shares during the last quarter. Energy Income Partners LLC grew its stake in shares of 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 purchasing an additional 135,029 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the fourth quarter valued at approximately $4,346,000. Finally, Raymond James & Associates grew its stake in shares of TXO Partners by 43.4% during the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock valued at $4,727,000 after purchasing an additional 70,918 shares during the last quarter. 27.44% of the stock is owned by 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.