TXO Partners (NYSE:TXO) Sees Large Volume Increase

TXO Partners, L.P. (NYSE:TXO) saw unusually-high trading volume on Thursday . Approximately 26,692 shares traded hands during mid-day trading, a decline of 61% from the previous session’s volume of 67,852 shares.The stock last traded at $20.42 and had previously closed at $20.38.

TXO Partners Price Performance

The stock has a market capitalization of $774.35 million, a PE ratio of -3.51 and a beta of 0.05. The stock’s 50-day moving average is $20.46 and its 200 day moving average is $20.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.27.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The company had revenue of $57.31 million for the quarter, compared to analysts’ expectations of $63.77 million. As a group, equities analysts expect that TXO Partners, L.P. will post 1.48 earnings per share for the current year.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Tuesday, August 20th. This represents a $2.28 dividend on an annualized basis and a yield of 11.31%. TXO Partners’s payout ratio is -44.44%.

Insider Activity at TXO Partners

In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $21.24, for a total transaction of $212,400.00. Following the transaction, the director now owns 2,561,530 shares of the company’s stock, valued at approximately $54,406,897.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $21.24, for a total transaction of $212,400.00. Following the transaction, the director now directly owns 2,561,530 shares in the company, valued at approximately $54,406,897.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Bob R. Simpson purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the transaction, the chief executive officer now directly owns 4,500,000 shares of the company’s stock, valued at approximately $90,000,000. The disclosure for this purchase can be found here.

Institutional Trading of TXO Partners

Large investors have recently bought and sold shares of the company. Brown Brothers Harriman & Co. purchased a new stake in TXO Partners during the 4th quarter worth approximately $183,000. Silverleafe Capital Partners LLC acquired a new position in TXO Partners during the 2nd quarter valued at about $685,000. 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 approximately $690,000. Raymond James Financial Services Advisors Inc. raised its holdings 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 purchasing an additional 18,755 shares in the last quarter. Finally, Sei Investments Co. bought a new position in TXO Partners during the 2nd quarter valued at $2,126,000. 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.