TXO Partners (NYSE:TXO) Shares Up 6.8% – Here’s Why

TXO Partners, L.P. (NYSE:TXO)’s share price was up 6.8% on Tuesday . The stock traded as high as $18.18 and last traded at $19.02. Approximately 98,530 shares traded hands during trading, a decline of 8% from the average daily volume of 106,743 shares. The stock had previously closed at $17.80.

TXO Partners Stock Down 0.2 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $778.03 million, a P/E ratio of -3.20 and a beta of 0.15. The stock’s 50-day simple moving average is $17.82 and its 200-day simple moving average is $17.85.

TXO Partners (NYSE:TXO) last released its 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). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The business had revenue of $68.73 million during the quarter, compared to the consensus estimate of $64.60 million. As a group, research analysts predict that TXO Partners, L.P. will post 0.76 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a $0.58 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.20%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s payout ratio is -39.06%.

Insider Buying and Selling

In related news, Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now directly owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. The trade was a 1.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Adams III purchased 14,000 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $16.93 per share, for a total transaction of $237,020.00. Following the acquisition, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. This trade represents a 17.77 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 75,500 shares of company stock worth $1,223,690.

Institutional Trading of TXO Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB bought a new position in shares of TXO Partners in the fourth quarter valued at approximately $72,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in TXO Partners in the 3rd quarter worth approximately $84,000. Childress Capital Advisors LLC bought a new position in TXO Partners in the 4th quarter valued at $423,000. Merit Financial Group LLC purchased a new position in shares of TXO Partners during the 4th quarter valued at $505,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of TXO Partners in the third quarter worth $559,000. 27.44% of the stock is currently owned by institutional investors.

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.