TXO Partners, L.P. (NYSE:TXO - Get Free Report) major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the completion of the sale, the insider now directly owns 1,112,219 shares of the company's stock, valued at $20,297,996.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their sales and purchases with the SEC.
Global Endowment Management, L also recently made the following trade(s):
- On Monday, May 6th, Global Endowment Management, L sold 41,978 shares of TXO Partners stock. The shares were sold at an average price of $18.03, for a total transaction of $756,863.34.
- On Tuesday, April 30th, Global Endowment Management, L sold 51,752 shares of TXO Partners stock. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28.
TXO Partners Stock Down 0.6 %
TXO stock traded down $0.11 during trading on Monday, reaching $18.08. The stock had a trading volume of 90,900 shares, compared to its average volume of 40,969. The company has a market capitalization of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. The firm has a fifty day moving average price of $18.31 and a 200 day moving average price of $18.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. TXO Partners, L.P. has a 1-year low of $17.20 and a 1-year high of $23.57.
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TXO Partners (NYSE:TXO - Get Free Report) last issued its 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. The business had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. On average, equities analysts anticipate that TXO Partners, L.P. will post 1.34 earnings per share for the current year.
TXO Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.58 dividend. This is a boost from TXO Partners's previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 14th. This represents a $2.32 annualized dividend and a yield of 12.83%. TXO Partners's dividend payout ratio is -69.88%.
Analysts Set New Price Targets
TXO has been the topic of several recent research reports. Raymond James reduced their target price on shares of TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Stifel Nicolaus cut their price objective on shares of TXO Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, January 23rd.
Check Out Our Latest Stock Report on TXO Partners
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Venturi Wealth Management LLC grew its position in TXO Partners by 64.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company's stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Raymond James & Associates grew its position in 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. Brown Brothers Harriman & Co. bought a new position in TXO Partners in the 4th quarter worth about $183,000. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of TXO Partners in the 3rd quarter worth approximately $206,000. Finally, King Luther Capital Management Corp lifted its stake in shares of TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company's stock worth $47,114,000 after acquiring an additional 15,000 shares during the period. Institutional investors own 27.44% of the company's stock.
About TXO Partners
(
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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