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

TXO Partners, L.P. (NYSE:TXO) saw strong trading volume on Monday . 28,616 shares changed hands during trading, a decline of 29% from the previous session’s volume of 40,108 shares.The stock last traded at $18.11 and had previously closed at $18.19.

Wall Street Analysts Forecast Growth

Several research analysts have commented on TXO shares. Stifel Nicolaus decreased their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Raymond James lowered their price objective on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

TXO Partners Trading Down 0.6 %

The firm has a market cap of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. The firm has a 50 day moving average price of $18.31. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.72. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. The firm had revenue of $91.97 million during the quarter, compared to analyst estimates of $70.76 million. Analysts predict that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.58 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.32 dividend on an annualized basis and a yield of 12.83%. TXO Partners’s payout ratio is presently -69.88%.

Insider Buying and Selling at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the transaction, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Institutional Investors Weigh In On TXO Partners

Institutional investors have recently modified their holdings of the business. King Luther Capital Management Corp boosted its holdings in shares of TXO Partners by 0.6% during the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after acquiring an additional 15,000 shares during the last quarter. Raymond James & Associates grew its position in TXO Partners by 1.3% in the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after purchasing an additional 3,331 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the 4th quarter valued at $4,346,000. Hsbc Holdings PLC bought a new position in shares of TXO Partners during the 4th quarter valued at $2,685,000. Finally, Raymond James Financial Services Advisors Inc. boosted its stake in shares of TXO Partners by 35.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after buying an additional 18,755 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

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.