CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 131,630 Shares of TXO Partners LP (NYSE:TXO)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT trimmed its holdings in TXO Partners LP (NYSE:TXO - Free Report) by 50.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 about 0.32% of TXO Partners worth $2,491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Total Wealth Planning & Management Inc. lifted its stake in shares of TXO Partners by 3.6% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 93,334 shares of the company's stock valued at $1,788,000 after purchasing an additional 3,274 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in TXO Partners in the 1st quarter valued at about $216,000. CWA Asset Management Group LLC increased its position in TXO Partners by 29.1% in the 1st quarter. CWA Asset Management Group LLC now owns 50,124 shares of the company's stock valued at $960,000 after buying an additional 11,294 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in TXO Partners in the 4th quarter valued at about $1,169,000. Finally, Jane Street Group LLC bought a new stake in TXO Partners in the 4th quarter valued at about $461,000. 27.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

TXO Partners Stock Down 0.4%

TXO Partners stock traded down $0.06 during midday trading on Friday, reaching $15.22. The stock had a trading volume of 138,743 shares, compared to its average volume of 146,201. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The company has a fifty day moving average price of $15.87 and a two-hundred day moving average price of $17.71. The company has a market capitalization of $629.65 million, a P/E ratio of 36.24 and a beta of 0.08. TXO Partners LP has a 12 month low of $14.78 and a 12 month high of $21.72.

TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). The company had revenue of $84.33 million for the quarter, compared to the consensus estimate of $82.00 million. TXO Partners had a return on equity of 3.89% and a net margin of 5.22%. As a group, equities analysts expect that TXO Partners LP will post 1.02 EPS for the current fiscal year.

TXO Partners Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a yield of 16.03%. The ex-dividend date of this dividend was Friday, May 16th. TXO Partners's dividend payout ratio is currently 580.95%.

Insiders Place Their Bets

In other TXO Partners news, Director Phillip R. Kevil bought 3,000 shares of TXO Partners stock in a transaction dated Wednesday, May 14th. The stock was bought at an average cost of $15.18 per share, with a total value of $45,540.00. Following the completion of the acquisition, the director now directly owns 27,384 shares in the company, valued at approximately $415,689.12. The trade was a 12.30% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gary D. Simpson sold 31,517 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the transaction, the chief executive officer now directly owns 408,053 shares of the company's stock, valued at approximately $7,785,651.24. This represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,473,000 shares of company stock valued at $52,095,540.

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.