King Luther Capital Management Corp Grows Position in TXO Partners, L.P. (NYSE:TXO)

King Luther Capital Management Corp raised its position in TXO Partners, L.P. (NYSE:TXO) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,591,530 shares of the company’s stock after buying an additional 15,000 shares during the quarter. King Luther Capital Management Corp owned about 0.08% of TXO Partners worth $47,114,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the 4th quarter valued at about $690,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of TXO Partners by 418.8% during the 4th 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 during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of TXO Partners by 64.3% during the 3rd 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 period. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 41,978 shares of TXO Partners stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares in the company, valued at approximately $19,650,320.04. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders sold 117,878 shares of company stock worth $2,149,284.

Analyst Ratings Changes

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

TXO Partners Stock Down 0.5 %

TXO stock traded down $0.12 during midday trading on Wednesday, hitting $22.28. 63,336 shares of the company’s stock were exchanged, compared to its average volume of 50,836. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.56. The firm has a 50 day moving average price of $19.54 and a 200-day moving average price of $18.59. The stock has a market capitalization of $689.34 million, a price-to-earnings ratio of -3.81 and a beta of -0.18.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The company had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.24 million. On average, analysts anticipate that TXO Partners, L.P. will post 1.33 EPS for the current year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be given a $0.65 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date is Friday, May 17th. This represents a $2.60 annualized dividend and a dividend yield of 11.67%. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

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.