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

TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Monday . 28,616 shares traded 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.

Analyst Upgrades and Downgrades

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

TXO Partners Price Performance

The firm has a market capitalization of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. 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 stock’s fifty day moving average is $18.31.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. Equities research analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued 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 dividend payout ratio is presently -69.88%.

Insider Activity

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the transaction, the insider now directly owns 1,120,778 shares of the company’s stock, valued at approximately $20,611,107.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. King Luther Capital Management Corp increased its stake 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 buying an additional 15,000 shares during the period. Raymond James & Associates lifted its holdings 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 during the period. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners in the fourth quarter valued at about $4,346,000. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners in the fourth quarter valued at approximately $2,685,000. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in shares of TXO Partners by 35.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after purchasing an additional 18,755 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.