Pin Oak Investment Advisors Inc. Boosts Stock Holdings in TXO Partners, L.P. (NYSE:TXO)

Pin Oak Investment Advisors Inc. lifted its stake in TXO Partners, L.P. (NYSE:TXO) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 291,882 shares of the company’s stock after purchasing an additional 821 shares during the period. TXO Partners comprises about 4.4% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 3rd largest position. Pin Oak Investment Advisors Inc. owned 0.71% of TXO Partners worth $4,915,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. CWA Asset Management Group LLC bought a new position in TXO Partners during the 4th quarter worth about $654,000. Merit Financial Group LLC bought a new position in TXO Partners during the 4th quarter worth about $505,000. Glenmede Trust Co. NA grew its holdings in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after acquiring an additional 5,831 shares in the last quarter. M&T Bank Corp bought a new position in TXO Partners during the 4th quarter worth about $253,000. Finally, Childress Capital Advisors LLC bought a new position in TXO Partners during the 4th quarter worth about $423,000. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Stock Down 2.8 %

Shares of TXO Partners stock opened at $19.32 on Wednesday. The stock has a market cap of $795.41 million, a price-to-earnings ratio of -3.25 and a beta of 0.13. The firm’s 50-day moving average is $19.20 and its two-hundred day moving average is $17.96. TXO Partners, L.P. has a 1 year low of $15.22 and a 1 year high of $23.56. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million for the quarter, compared to analysts’ expectations of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. As a group, research analysts expect that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Shareholders of record on Friday, March 14th will be given a dividend of $0.61 per share. This represents a $2.44 annualized dividend and a dividend yield of 12.63%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, March 14th. TXO Partners’s dividend payout ratio is presently 353.62%.

Insider Buying and Selling at TXO Partners

In related news, CAO Scott T. Agosta sold 5,775 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $18.59, for a total value of $107,357.25. Following the completion of the transaction, the chief accounting officer now directly owns 159,498 shares of the company’s stock, valued at $2,965,067.82. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Adams III acquired 14,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $16.93 per share, with a total value of $237,020.00. Following the completion of the transaction, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. The trade was a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

TXO Partners 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.