TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume

TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Wednesday . 191,785 shares traded hands during trading, an increase of 211% from the previous session’s volume of 61,748 shares.The stock last traded at $21.46 and had previously closed at $20.52.

TXO Partners Stock Up 3.0 %

The firm has a market capitalization of $653.76 million, a PE ratio of -3.54 and a beta of 0.05. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average of $20.80 and a two-hundred day moving average of $20.00.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. The company had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. On average, equities research analysts forecast that TXO Partners, L.P. will post 1.63 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 12.30%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insiders Place Their Bets

In other TXO Partners news, CEO Bob R. Simpson bought 100,000 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the completion of the transaction, the chief executive officer now owns 4,500,000 shares in the company, valued at $90,000,000. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Bob R. Simpson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,500,000 shares of the company’s stock, valued at approximately $90,000,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Luther King, Jr. sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total transaction of $222,000.00. Following the completion of the sale, the director now directly owns 2,581,530 shares of the company’s stock, valued at approximately $57,309,966. The disclosure for this sale can be found here. Insiders have sold 137,878 shares of company stock worth $2,583,684 in the last quarter.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new position in TXO Partners in the fourth quarter worth $4,346,000. Hsbc Holdings PLC acquired a new position in TXO Partners during the 4th quarter valued at approximately $2,685,000. Energy Income Partners LLC increased its position in TXO Partners by 37.7% in 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. lifted its stake in TXO Partners by 418.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after buying an additional 42,533 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners during the fourth quarter valued at $690,000. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

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.