TXO Partners (NYSE:TXO) Sees Strong Trading Volume

TXO Partners, L.P. (NYSE:TXO) saw strong trading volume on Monday . 28,616 shares were traded during mid-day 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.

Analysts Set New Price Targets

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

TXO Partners Trading Down 0.6 %

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

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share 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 analysts’ expectations of $70.76 million. Sell-side analysts anticipate that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

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

Insiders Place Their Bets

In other TXO Partners news, major shareholder Global Endowment Management, L sold 51,752 shares of the 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 directly owns 1,120,778 shares in the company, valued at $20,611,107.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Hedge Funds Weigh In On TXO Partners

Large investors have recently made changes to their positions in the business. Raymond James & Associates grew its position in shares of TXO Partners by 1.3% during the third 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 in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new stake in TXO Partners during the 3rd quarter valued at approximately $206,000. Venturi Wealth Management LLC raised its position in shares of TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after buying an additional 900 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of TXO Partners in the fourth quarter worth $690,000. Finally, King Luther Capital Management Corp boosted its position in shares of TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after acquiring an additional 15,000 shares during the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.