Merit Financial Group LLC Invests $505,000 in TXO Partners, L.P. (NYSE:TXO)

Merit Financial Group LLC bought a new position in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 30,000 shares of the company's stock, valued at approximately $505,000. Merit Financial Group LLC owned 0.07% of TXO Partners at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of TXO Partners during the third quarter valued at approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in TXO Partners during the third quarter worth $559,000. PFG Investments LLC bought a new stake in TXO Partners in the 3rd quarter valued at $639,000. CWA Asset Management Group LLC bought a new stake in TXO Partners in the 4th quarter valued at $654,000. Finally, Glenmede Trust Co. NA raised its stake in shares of TXO Partners by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company's stock valued at $943,000 after buying an additional 5,831 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Price Performance

Shares of TXO Partners stock traded down $0.22 during trading on Friday, hitting $19.15. 125,600 shares of the company's stock traded hands, compared to its average volume of 119,367. The company has a market cap of $783.22 million, a PE ratio of -3.22 and a beta of 0.15. The firm's fifty day moving average price is $17.65 and its 200 day moving average price is $17.84. TXO Partners, L.P. has a twelve month low of $15.22 and a twelve month high of $23.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The business had revenue of $68.73 million for the quarter, compared to the consensus estimate of $64.60 million. Analysts forecast that TXO Partners, L.P. will post 0.76 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were paid a $0.58 dividend. This is a positive change from TXO Partners's previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 12.12%. TXO Partners's payout ratio is currently -39.06%.

Insider Buying and Selling at TXO Partners

In other TXO Partners news, Director William H. Adams III bought 14,000 shares of TXO Partners stock in a transaction dated Monday, December 30th. The shares were acquired at an average cost of $16.93 per share, with a total value of $237,020.00. Following the acquisition, the director now directly owns 92,784 shares of the company's stock, valued at $1,570,833.12. The trade was a 17.77 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Keith A. Hutton purchased 60,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $16.04 per share, with a total value of $962,400.00. Following the completion of the acquisition, the director now directly owns 4,100,215 shares in the company, valued at approximately $65,767,448.60. This represents a 1.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have purchased 75,500 shares of company stock worth $1,223,690 over the last three months.

TXO Partners 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.