TXO Partners, L.P. (NYSE:TXO) Sees Large Increase in Short Interest

TXO Partners, L.P. (NYSE:TXO) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 253,600 shares, a growth of 417.6% from the February 13th total of 49,000 shares. Based on an average daily trading volume, of 142,400 shares, the days-to-cover ratio is currently 1.8 days. Currently, 0.8% of the company’s shares are sold short.

Insider Buying and Selling at TXO Partners

In other news, Director William H. Adams III acquired 14,000 shares of the company’s stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $16.93 per share, for a total transaction of $237,020.00. Following the acquisition, the director now directly owns 92,784 shares in the company, valued at approximately $1,570,833.12. This represents a 17.77 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Keith A. Hutton purchased 60,000 shares of the stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now owns 4,100,215 shares of the company’s stock, valued at $65,767,448.60. This trade represents a 1.49 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 75,500 shares of company stock worth $1,223,690 in the last 90 days.

Hedge Funds Weigh In On TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of TXO Partners during the fourth quarter worth $72,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in TXO Partners by 109.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock worth $150,000 after buying an additional 4,664 shares during the period. M&T Bank Corp acquired a new position in TXO Partners in the 4th quarter worth $253,000. XTX Topco Ltd purchased a new position in TXO Partners in the 4th quarter valued at about $270,000. Finally, Virtu Financial LLC acquired a new stake in shares of TXO Partners during the fourth quarter valued at about $339,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

TXO Partners Trading Up 1.1 %

TXO traded up $0.21 during trading on Friday, hitting $19.21. 33,151 shares of the company’s stock were exchanged, compared to its average volume of 94,051. The stock has a 50 day moving average price of $19.18 and a 200 day moving average price of $17.93. TXO Partners has a 1 year low of $15.22 and a 1 year high of $23.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a market cap of $790.84 million, a P/E ratio of -3.23 and a beta of 0.13.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.13). The company had revenue of $83.68 million during the quarter, compared to analyst estimates of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. As a group, analysts expect that TXO Partners will post 1.02 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 21st. Investors of record on Friday, March 14th will be given a dividend of $0.61 per share. The ex-dividend date is Friday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a yield of 12.70%. TXO Partners’s payout ratio is 353.62%.

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.