Raymond James Financial Inc. Acquires New Position in TXO Partners, L.P. (NYSE:TXO)

Raymond James Financial Inc. bought a new position in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 273,674 shares of the company's stock, valued at approximately $4,609,000. Raymond James Financial Inc. owned about 0.67% of TXO Partners at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of TXO Partners during the 4th quarter valued at about $72,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in shares of TXO Partners by 109.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company's stock valued at $150,000 after buying an additional 4,664 shares in the last quarter. M&T Bank Corp acquired a new stake in TXO Partners in the 4th quarter valued at $253,000. Childress Capital Advisors LLC purchased a new stake in TXO Partners in the 4th quarter worth $423,000. Finally, Merit Financial Group LLC acquired a new position in TXO Partners during the fourth quarter worth $505,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Price Performance

Shares of NYSE TXO traded down $0.19 during trading on Friday, hitting $19.11. The company had a trading volume of 30,887 shares, compared to its average volume of 96,147. The firm has a market capitalization of $786.72 million, a price-to-earnings ratio of -3.22 and a beta of 0.13. The stock has a fifty day simple moving average of $19.27 and a two-hundred day simple moving average of $18.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners, L.P. has a fifty-two week low of $15.22 and a fifty-two week high of $23.56.

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TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings data on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.13). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The firm had revenue of $83.68 million for the quarter, compared to analysts' expectations of $83.68 million. On average, research analysts expect that TXO Partners, L.P. will post 1.02 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were issued a $0.61 dividend. This is an increase from TXO Partners's previous quarterly dividend of $0.58. The ex-dividend date was Friday, March 14th. This represents a $2.44 dividend on an annualized basis and a yield of 12.77%. TXO Partners's dividend payout ratio is presently 353.62%.

Insiders Place Their Bets

In related news, CAO Scott T. Agosta sold 5,775 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $18.59, for a total transaction of $107,357.25. Following the completion of the sale, the chief accounting officer now directly owns 159,498 shares in the company, valued at approximately $2,965,067.82. This trade represents a 3.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Adams III bought 14,000 shares of the firm's stock in a transaction on Monday, December 30th. The stock was purchased at an average price of $16.93 per share, for a total transaction of $237,020.00. Following the completion of the acquisition, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. The trade was a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

About TXO Partners

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.