Raymond James Financial Inc. Invests $4.61 Million in TXO Partners, L.P. (NYSE:TXO)

Raymond James Financial Inc. bought a new stake in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its position in shares of TXO Partners by 41.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock worth $17,795,000 after purchasing an additional 313,049 shares in the last quarter. Pin Oak Investment Advisors Inc. boosted its holdings in TXO Partners by 0.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company's stock worth $4,915,000 after acquiring an additional 821 shares in the last quarter. Sei Investments Co. grew its stake in shares of TXO Partners by 4.2% during the fourth quarter. Sei Investments Co. now owns 123,094 shares of the company's stock worth $2,073,000 after acquiring an additional 5,000 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of TXO Partners by 28.2% during the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 50,000 shares of the company's stock valued at $842,000 after acquiring an additional 11,000 shares in the last quarter. Finally, CWA Asset Management Group LLC purchased a new position in shares of TXO Partners in the 4th quarter valued at approximately $654,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Stifel Nicolaus initiated coverage on shares of TXO Partners in a report on Wednesday, April 23rd. They issued a "buy" rating and a $20.00 price target for the company.

Insiders Place Their Bets

In other news, CAO Scott T. Agosta sold 5,775 shares of the 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 sale, the chief accounting officer now directly owns 159,498 shares of the company's stock, valued at $2,965,067.82. This represents a 3.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brent W. Clum sold 7,702 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 value of $143,180.18. Following the sale, the chief financial officer now owns 470,337 shares in the company, valued at $8,743,564.83. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,994 shares of company stock valued at $851,882.

TXO Partners Stock Performance

Shares of TXO stock traded up $0.01 during mid-day trading on Tuesday, reaching $17.01. The stock had a trading volume of 92,271 shares, compared to its average volume of 100,679. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners, L.P. has a 1-year low of $15.22 and a 1-year high of $23.56. The firm has a market cap of $700.27 million, a price-to-earnings ratio of -2.86 and a beta of 0.09. The business's fifty day moving average is $18.40 and its 200-day moving average is $17.99.

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

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 14.34%. This is a positive change from TXO Partners's previous quarterly dividend of $0.58. The ex-dividend date was Friday, March 14th. TXO Partners's dividend payout ratio is presently 353.62%.

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.