TXO Partners, L.P. (NYSE:TXO) Short Interest Update

TXO Partners, L.P. (NYSE:TXO - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 193,800 shares, a decline of 23.6% from the February 28th total of 253,600 shares. Based on an average trading volume of 126,300 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.6% of the shares of the company are sold short.

TXO Partners Price Performance

TXO stock traded up $0.11 on Thursday, hitting $18.73. 116,979 shares of the company's stock traded hands, compared to its average volume of 117,251. The stock has a fifty day moving average of $19.27 and a 200-day moving average of $18.07. The stock has a market cap of $770.87 million, a price-to-earnings ratio of -3.15 and a beta of 0.09. 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 has a 1-year low of $15.22 and a 1-year high of $23.56.

TXO Partners (NYSE:TXO - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. On average, analysts forecast that TXO Partners will post 1.02 EPS for the current fiscal year.

Remove Ads

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Friday, March 14th were given a $0.61 dividend. This is a positive change from TXO Partners's previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a yield of 13.03%. The ex-dividend date of this dividend was Friday, March 14th. TXO Partners's dividend payout ratio is presently 353.62%.

Insider Activity

In other news, CEO Gary D. Simpson sold 31,517 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the transaction, the chief executive officer now directly owns 408,053 shares in the company, valued at $7,785,651.24. This trade represents a 7.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brent W. Clum sold 7,702 shares of TXO Partners stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $143,180.18. Following the transaction, the chief financial officer now directly owns 470,337 shares in the company, valued at approximately $8,743,564.83. The trade was a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,994 shares of company stock worth $851,882.

Institutional Trading of TXO Partners

A number of institutional investors have recently added to or reduced their stakes in TXO. Pin Oak Investment Advisors Inc. raised its stake in shares of TXO Partners by 0.3% in the 4th quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company's stock valued at $4,915,000 after acquiring an additional 821 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of TXO Partners during the 4th quarter worth $72,000. Thurston Springer Miller Herd & Titak Inc. grew its stake in TXO Partners by 109.7% in 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 during the last quarter. Sei Investments Co. grew its stake in TXO Partners by 4.2% in the 4th quarter. Sei Investments Co. now owns 123,094 shares of the company's stock valued at $2,073,000 after buying an additional 5,000 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in TXO Partners by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company's stock worth $943,000 after acquiring an additional 5,831 shares during the period. 27.44% of the stock is currently 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.