TXO Partners (NYSE:TXO) Stock Price Down 2.9%

Shares of TXO Partners, L.P. (NYSE:TXO - Get Free Report) traded down 2.9% during trading on Thursday . The stock traded as low as $20.00 and last traded at $20.01. 741,248 shares traded hands during mid-day trading, an increase of 1,966% from the average session volume of 35,887 shares. The stock had previously closed at $20.60.

TXO Partners Price Performance

The stock's fifty day moving average price is $20.90 and its 200-day moving average price is $19.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The firm has a market cap of $623.75 million, a PE ratio of -3.45 and a beta of 0.10.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.09. The business had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. As a group, equities analysts forecast that TXO Partners, L.P. will post 1.28 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a dividend of $0.65 per share. This is an increase from TXO Partners's previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a yield of 12.90%. The ex-dividend date was Friday, May 17th. TXO Partners's dividend payout ratio (DPR) is -44.44%.

Insider Buying and Selling at TXO Partners

In other news, Director Luther King, Jr. sold 10,000 shares of TXO Partners 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 completion of the sale, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Bob R. Simpson purchased 100,000 shares of the stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,500,000 shares in the company, valued at approximately $90,000,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total transaction of $222,000.00. Following the sale, the director now owns 2,581,530 shares of the company's stock, valued at $57,309,966. The disclosure for this sale can be found here. In the last three months, insiders sold 137,878 shares of company stock worth $2,583,684.

Institutional Investors Weigh In On TXO Partners

Hedge funds have recently modified their holdings of the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of TXO Partners in the fourth quarter worth approximately $183,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in TXO Partners during the fourth quarter valued at approximately $690,000. Raymond James Financial Services Advisors Inc. lifted its position in TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company's stock valued at $958,000 after buying an additional 42,533 shares in the last quarter. Hsbc Holdings PLC acquired a new position in TXO Partners during the fourth quarter valued at approximately $2,685,000. Finally, Pin Oak Investment Advisors Inc. acquired a new position in TXO Partners during the fourth quarter valued at approximately $4,346,000. 27.44% of the stock is owned by institutional investors and hedge funds.

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.