TXO Partners (NYSE:TXO) Trading Up 6.8% - Time to Buy?

TXO Partners, L.P. (NYSE:TXO - Get Free Report) shot up 6.8% on Tuesday . The stock traded as high as $18.18 and last traded at $19.02. 98,530 shares changed hands during mid-day trading, a decline of 8% from the average session volume of 106,743 shares. The stock had previously closed at $17.80.

TXO Partners Stock Down 2.8 %

The firm has a 50 day moving average of $18.03 and a two-hundred day moving average of $17.82. The stock has a market capitalization of $755.61 million, a PE ratio of -3.11 and a beta of 0.15. 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 (NYSE:TXO - Get Free Report) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The firm had revenue of $68.73 million for the quarter, compared to analyst estimates of $64.60 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. Equities research analysts anticipate 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, November 22nd. Shareholders of record on Friday, November 15th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 12.56%. The ex-dividend date was Friday, November 15th. This is an increase from TXO Partners's previous quarterly dividend of $0.57. TXO Partners's dividend payout ratio is -39.06%.

Insider Activity

In related news, Director William H. Adams III acquired 14,000 shares of the firm's stock in a transaction that occurred on Monday, December 30th. The shares were acquired at an average price of $16.93 per share, with a total value of $237,020.00. Following the completion of the purchase, the director now directly owns 92,784 shares in the company, valued at approximately $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 hyperlink. Also, Director Keith A. Hutton acquired 60,000 shares of the company's stock in a transaction that occurred on Wednesday, December 18th. The shares were bought at an average price of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now owns 4,100,215 shares in the company, valued at $65,767,448.60. This represents a 1.49 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired 75,500 shares of company stock worth $1,223,690 over the last ninety days.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors have recently modified their holdings of TXO. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in TXO Partners in the 3rd quarter worth approximately $84,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of TXO Partners in the fourth quarter valued at $72,000. Glenmede Trust Co. NA increased its stake in TXO Partners by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company's stock valued at $943,000 after purchasing an additional 5,831 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in 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 worth $842,000 after buying an additional 11,000 shares during the period. Finally, Pin Oak Investment Advisors Inc. boosted its stake in TXO Partners by 7.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company's stock worth $5,757,000 after buying an additional 19,241 shares during the last quarter. Institutional investors and hedge funds own 27.44% of the company's stock.

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.