Global Endowment Management LP Has $37.74 Million Position in TXO Partners LP $TXO

Key Points

• Global Endowment Management LP increased its stake in TXO Partners by 54.9%, now owning 2,686,017 shares worth about $37.74 million, or roughly 4.9% of the company (its fifth-largest holding).
• TXO declared a quarterly dividend of $0.30 (annualized $1.20) implying a 9.9% yield, but the payout ratio is deeply negative at -279.07%, suggesting the dividend may be unsustainable.
• The company missed EPS (reported -$0.57 vs. $0.10 expected) despite revenue beating estimates, yet analysts remain mixed with a consensus rating of "Moderate Buy" and a $18.50 target.

Global Endowment Management LP raised its holdings in shares of TXO Partners LP (NYSE:TXO - Free Report) by 54.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,686,017 shares of the company's stock after purchasing an additional 952,257 shares during the quarter. TXO Partners accounts for about 4.7% of Global Endowment Management LP's portfolio, making the stock its 5th largest position. Global Endowment Management LP owned about 4.90% of TXO Partners worth $37,739,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in TXO. American Century Companies Inc. raised its holdings in TXO Partners by 40.7% in the second quarter. American Century Companies Inc. now owns 1,490,548 shares of the company's stock valued at $22,418,000 after acquiring an additional 431,234 shares in the last quarter. Energy Income Partners LLC increased its stake in TXO Partners by 15.4% in the second quarter. Energy Income Partners LLC now owns 904,277 shares of the company's stock valued at $13,600,000 after purchasing an additional 120,663 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in TXO Partners by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company's stock worth $10,767,000 after buying an additional 35,990 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of TXO Partners by 9.6% in the third quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 581,000 shares of the company's stock worth $8,163,000 after purchasing an additional 51,000 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of TXO Partners by 14.9% in the 3rd quarter. First Trust Advisors LP now owns 445,511 shares of the company's stock worth $6,259,000 after purchasing an additional 57,857 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TXO shares. Wall Street Zen raised shares of TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Raymond James Financial set a $18.00 price target on shares of TXO Partners in a report on Tuesday, January 27th. Weiss Ratings downgraded shares of TXO Partners from a "hold (c-)" rating to a "sell (d+)" rating in a report on Monday, January 12th. Finally, Stifel Nicolaus lifted their price objective on TXO Partners from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

Insider Buying and Selling

In other TXO Partners news, CAO Scott T. Agosta sold 10,689 shares of TXO Partners stock in a transaction that occurred on Saturday, January 31st. The stock was sold at an average price of $12.07, for a total value of $129,016.23. Following the transaction, the chief accounting officer directly owned 205,474 shares of the company's stock, valued at $2,480,071.18. The trade was a 4.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Brent W. Clum sold 19,571 shares of the stock in a transaction that occurred on Saturday, January 31st. The stock was sold at an average price of $12.07, for a total value of $236,221.97. Following the completion of the sale, the chief executive officer owned 827,574 shares in the company, valued at approximately $9,988,818.18. The trade was a 2.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 38,386 shares of company stock valued at $463,319 over the last 90 days.

TXO Partners Stock Performance

Shares of TXO stock opened at $12.16 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.62 and a current ratio of 0.62. TXO Partners LP has a one year low of $10.12 and a one year high of $20.24. The firm's 50 day moving average price is $11.87 and its 200-day moving average price is $12.59. The firm has a market cap of $671.72 million, a P/E ratio of -28.28 and a beta of 0.10.

TXO Partners (NYSE:TXO - Get Free Report) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.67). The company had revenue of $125.93 million for the quarter, compared to analyst estimates of $111.09 million. TXO Partners had a negative net margin of 5.39% and a negative return on equity of 2.03%. As a group, equities research analysts predict that TXO Partners LP will post 1.02 EPS for the current year.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.9%. The ex-dividend date of this dividend is Tuesday, March 10th. TXO Partners's dividend payout ratio is presently -279.07%.

TXO Partners Profile

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.

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