TXO Partners (NYSE:TXO) Shares Up 6.8% – Here’s Why

TXO Partners, L.P. (NYSE:TXO) rose 6.8% during mid-day trading on Tuesday . The stock traded as high as $18.18 and last traded at $19.02. Approximately 98,530 shares traded hands during mid-day trading, a decline of 8% from the average daily volume of 106,743 shares. The stock had previously closed at $17.80.

TXO Partners Stock Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $778.03 million, a PE ratio of -3.20 and a beta of 0.15. The firm has a fifty day moving average price of $17.82 and a 200 day moving average price of $17.85.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The business had revenue of $68.73 million during the quarter, compared to analyst estimates of $64.60 million. Research analysts forecast that TXO Partners, L.P. will post 0.76 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 12.20%. The ex-dividend date of this dividend was Friday, November 15th. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s payout ratio is currently -39.06%.

Insiders Place Their Bets

In other news, Director William H. Adams III bought 14,000 shares of TXO Partners stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average price of $16.93 per share, for a total transaction of $237,020.00. Following the purchase, the director now directly owns 92,784 shares of the company’s stock, valued at approximately $1,570,833.12. The trade was a 17.77 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Keith A. Hutton purchased 60,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now owns 4,100,215 shares in the company, valued at $65,767,448.60. This trade represents a 1.49 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 75,500 shares of company stock valued at $1,223,690.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. CWA Asset Management Group LLC acquired a new stake in shares of TXO Partners in the fourth quarter worth $654,000. Merit Financial Group LLC purchased a new stake in TXO Partners in the fourth quarter valued at $505,000. Glenmede Trust Co. NA grew its position 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 purchasing an additional 5,831 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of TXO Partners during the 3rd quarter valued at about $559,000. Finally, PFG Investments LLC purchased a new position in shares of TXO Partners during the 3rd quarter valued at about $639,000. 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.