TXO Partners, L.P. (NYSE:TXO - Get Free Report) major shareholder Global Endowment Management, L sold 51,752 shares of the business's stock in a transaction dated Tuesday, April 30th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
TXO Partners Trading Down 1.4 %
NYSE:TXO traded down $0.25 on Thursday, reaching $18.26. 46,600 shares of the company's stock were exchanged, compared to its average volume of 40,191. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $561.50 million, a price-to-earnings ratio of -5.50 and a beta of -0.18. The business has a fifty day moving average of $18.29 and a 200-day moving average of $18.20. TXO Partners, L.P. has a 52-week low of $17.20 and a 52-week high of $23.57.
TXO Partners (NYSE:TXO - Get Free Report) last released its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, topping 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 analyst estimates of $70.76 million. As a group, analysts expect that TXO Partners, L.P. will post 1.34 earnings per share for the current year.
TXO Partners Increases Dividend
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The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.71%. This is a positive change from TXO Partners's previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 14th. TXO Partners's dividend payout ratio is presently -69.88%.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on TXO shares. Stifel Nicolaus cut their price target on shares of TXO Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a research note on Tuesday, January 23rd. Raymond James cut their price target on shares of TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, January 24th.
Read Our Latest Report on TXO Partners
Institutional Trading of TXO Partners
Large investors have recently made changes to their positions in the company. Venturi Wealth Management LLC increased its stake 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 worth $47,000 after buying an additional 900 shares during the period. Brown Brothers Harriman & Co. purchased a new position in TXO Partners in the fourth quarter valued at approximately $183,000. Raymond James Financial Services Advisors Inc. purchased a new position in TXO Partners in the third quarter valued at approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in TXO Partners in the fourth quarter valued at approximately $690,000. Finally, Hsbc Holdings PLC purchased a new position in TXO Partners in the fourth quarter valued at approximately $2,685,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.
TXO Partners Company Profile
(
Get Free Report)
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.
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