Short Interest in TXO Partners, L.P. (NYSE:TXO) Drops By 23.3%

TXO Partners, L.P. (NYSE:TXO) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totalling 34,500 shares, a drop of 23.3% from the May 31st total of 45,000 shares. Based on an average trading volume of 59,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the shares of the company are short sold.

Insider Buying and Selling

In other TXO Partners news, insider Keith A. Hutton purchased 878,000 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were bought at an average price of $20.00 per share, with a total value of $17,560,000.00. Following the completion of the acquisition, the insider now owns 4,000,215 shares in the company, valued at approximately $80,004,300. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Bob R. Simpson purchased 100,000 shares of the stock in a transaction dated Friday, June 28th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the acquisition, the chief executive officer now directly owns 4,500,000 shares in the company, valued at approximately $90,000,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith A. Hutton purchased 878,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the purchase, the insider now directly owns 4,000,215 shares of the company’s stock, valued at approximately $80,004,300. The disclosure for this purchase can be found here. Insiders have sold a total of 137,878 shares of company stock valued at $2,583,684 in the last quarter.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brown Brothers Harriman & Co. bought a new position in shares of TXO Partners in the 4th quarter worth $183,000. King Luther Capital Management Corp boosted its holdings in 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 last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of TXO Partners by 35.6% during 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 period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in shares of TXO Partners in the 4th quarter valued at about $690,000. Finally, Energy Income Partners LLC raised its position in shares of TXO Partners by 37.7% in the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after acquiring an additional 135,029 shares during the period. 27.44% of the stock is owned by institutional investors.

TXO Partners Stock Up 0.8 %

TXO traded up $0.16 during midday trading on Friday, hitting $20.16. 151,000 shares of the company’s stock traded hands, compared to its average volume of 75,174. The company has a market cap of $623.75 million, a PE ratio of -3.45 and a beta of 0.10. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. TXO Partners has a one year low of $17.20 and a one year high of $23.56. The stock’s fifty day simple moving average is $20.90 and its 200-day simple moving average is $19.71.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $65.24 million. As a group, equities analysts anticipate that TXO Partners will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a yield of 12.90%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio is currently -44.44%.

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.