TXO Partners (NYSE:TXO) Shares Gap Up to $20.00

Shares of TXO Partners, L.P. (NYSE:TXO) gapped up before the market opened on Friday . The stock had previously closed at $20.00, but opened at $20.55. TXO Partners shares last traded at $20.50, with a volume of 10,350 shares.

TXO Partners Stock Performance

The stock has a fifty day simple moving average of $20.95 and a 200-day simple moving average of $19.68. The stock has a market cap of $621.28 million, a P/E ratio of -3.42 and a beta of 0.10. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.09. The company had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. On average, equities analysts expect that TXO Partners, L.P. will post 1.28 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were issued a $0.65 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. This represents a $2.60 annualized dividend and a dividend yield of 12.95%. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insider Activity

In related news, Director Luther King, Jr. sold 10,000 shares of TXO Partners 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 transaction, the director now owns 2,581,530 shares in the company, valued at $57,309,966. The transaction was disclosed in a 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 firm’s stock in a transaction that occurred on 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 sale, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Endowment Management, L sold 24,148 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the sale, the insider now owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The disclosure for this sale can be found here. Insiders sold 137,878 shares of company stock worth $2,583,684 in the last quarter.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently bought and sold shares of TXO. Pin Oak Investment Advisors Inc. acquired a new stake in TXO Partners during the fourth quarter worth approximately $4,346,000. Hsbc Holdings PLC acquired a new stake in TXO Partners during the fourth quarter worth approximately $2,685,000. Energy Income Partners LLC raised its position in shares of TXO Partners by 37.7% in the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after buying an additional 135,029 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of 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 in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of TXO Partners in the fourth quarter valued at approximately $690,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.