TXO Partners LP (NYSE:TXO) Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lowered its holdings in shares of TXO Partners LP (NYSE:TXO - Free Report) by 50.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 130,000 shares of the company's stock after selling 131,630 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.32% of TXO Partners worth $2,491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in shares of TXO Partners during the first quarter worth approximately $216,000. M&T Bank Corp purchased a new stake in shares of TXO Partners in the 4th quarter worth approximately $253,000. XTX Topco Ltd bought a new position in shares of TXO Partners in the 4th quarter worth $270,000. Virtu Financial LLC purchased a new stake in shares of TXO Partners during the 4th quarter worth $339,000. Finally, Boston Partners purchased a new position in TXO Partners in the fourth quarter valued at about $375,000. 27.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus assumed coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $20.00 price objective on the stock.

Insider Buying and Selling

In other news, Director Keith A. Hutton purchased 700,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were acquired at an average price of $15.00 per share, for a total transaction of $10,500,000.00. Following the purchase, the director owned 4,820,215 shares in the company, valued at $72,303,225. This trade represents a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lawrence S. Massaro bought 20,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were purchased at an average cost of $15.00 per share, with a total value of $300,000.00. Following the acquisition, the director directly owned 23,900 shares of the company's stock, valued at approximately $358,500. This trade represents a 512.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 3,473,000 shares of company stock worth $52,095,540 over the last three months.

TXO Partners Stock Up 0.1%

TXO Partners stock traded up $0.02 during midday trading on Tuesday, reaching $15.06. The company's stock had a trading volume of 170,277 shares, compared to its average volume of 146,912. TXO Partners LP has a 52-week low of $14.78 and a 52-week high of $21.72. The stock has a market capitalization of $622.99 million, a P/E ratio of 35.86 and a beta of 0.09. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.00 and a quick ratio of 1.00. The stock's 50-day simple moving average is $15.83 and its 200-day simple moving average is $17.70.

TXO Partners (NYSE:TXO - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). TXO Partners had a return on equity of 3.89% and a net margin of 5.22%. The company had revenue of $84.33 million during the quarter, compared to analyst estimates of $82.00 million. On average, sell-side analysts expect that TXO Partners LP will post 1.02 EPS for the current year.

TXO Partners Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were given a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 16.20%. The ex-dividend date of this dividend was Friday, May 16th. TXO Partners's payout ratio is 580.95%.

TXO Partners 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.