TXO Partners (NYSE:TXO) Sees Strong Trading Volume

TXO Partners, L.P. (NYSE:TXO) shares saw unusually-high trading volume on Wednesday . Approximately 25,532 shares changed hands during mid-day trading, a decline of 57% from the previous session’s volume of 58,965 shares.The stock last traded at $20.79 and had previously closed at $20.80.

TXO Partners Price Performance

The stock’s 50-day moving average price is $20.84 and its 200 day moving average price is $19.79. The firm has a market capitalization of $652.52 million, a price-to-earnings ratio of -3.60 and a beta of 0.06. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The business had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. Equities research analysts expect that TXO Partners, L.P. will post 1.35 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.33%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio is currently -44.44%.

Insider Activity at TXO Partners

In related news, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the completion of the transaction, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Keith A. Hutton bought 878,000 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, with a total value of $17,560,000.00. Following the purchase, the insider now owns 4,000,215 shares of the company’s stock, valued at $80,004,300. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 137,878 shares of company stock valued at $2,583,684.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Energy Income Partners LLC boosted its stake in TXO Partners by 37.7% during the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after buying an additional 135,029 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in TXO Partners by 35.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after buying an additional 18,755 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners during the fourth quarter worth about $4,346,000. Brown Brothers Harriman & Co. purchased a new position in shares of TXO Partners in the fourth quarter valued at approximately $183,000. Finally, Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the fourth quarter valued at approximately $2,685,000. Hedge funds and other institutional investors 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.