Kim LLC decreased its position in TXO Partners LP (NYSE:TXO - Free Report) by 21.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 395,205 shares of the company's stock after selling 104,795 shares during the period. TXO Partners comprises 0.9% of Kim LLC's portfolio, making the stock its 24th biggest position. Kim LLC owned about 0.96% of TXO Partners worth $7,572,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in TXO. Raymond James Financial Inc. bought a new stake in shares of TXO Partners during the 4th quarter worth about $4,609,000. XTX Topco Ltd acquired a new position in TXO Partners in the 4th quarter worth about $270,000. Jane Street Group LLC acquired a new position in shares of TXO Partners during the fourth quarter worth $461,000. Total Wealth Planning & Management Inc. acquired a new stake in shares of TXO Partners in the fourth quarter valued at about $1,517,000. Finally, Wealthedge Investment Advisors LLC bought a new position in TXO Partners during the 4th quarter worth approximately $1,169,000. Institutional investors and hedge funds own 27.44% of the company's stock.
TXO Partners Price Performance
NYSE TXO traded down $0.27 during trading hours on Friday, reaching $14.69. 182,749 shares of the stock traded hands, compared to its average volume of 154,491. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 1.00. The company has a market cap of $607.77 million, a price-to-earnings ratio of 44.52 and a beta of 0.09. The stock has a 50 day simple moving average of $15.18 and a two-hundred day simple moving average of $16.99. TXO Partners LP has a 1 year low of $14.62 and a 1 year high of $20.93.
TXO Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 12.3%. The ex-dividend date is Friday, August 15th. TXO Partners's dividend payout ratio (DPR) is presently 580.95%.
Insider Buying and Selling
In other TXO Partners news, insider Luther King, Jr. purchased 500,000 shares of the stock in a transaction on Thursday, May 15th. The stock was acquired at an average price of $15.00 per share, with a total value of $7,500,000.00. Following the transaction, the insider directly owned 3,061,530 shares of the company's stock, valued at approximately $45,922,950. This trade represents a 19.52% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Phillip R. Kevil purchased 3,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was bought at an average price of $15.18 per share, for a total transaction of $45,540.00. Following the acquisition, the director owned 27,384 shares of the company's stock, valued at $415,689.12. This represents a 12.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 3,473,000 shares of company stock worth $52,095,540 over the last 90 days.
Analyst Ratings Changes
Several analysts have recently commented on TXO shares. Stifel Nicolaus began coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price objective for the company. Wall Street Zen lowered TXO Partners from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Raymond James Financial reaffirmed a "strong-buy" rating and set a $24.00 price target (up previously from $23.00) on shares of TXO Partners in a research report on Friday, July 25th.
View Our Latest Analysis on TXO Partners
About TXO Partners
(
Free Report)
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.
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