Kim LLC trimmed its position in TXO Partners LP (NYSE:TXO - Free Report) by 21.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 395,205 shares of the company's stock after selling 104,795 shares during the period. TXO Partners makes up approximately 0.9% of Kim LLC's holdings, making the stock its 24th biggest holding. Kim LLC owned 0.96% of TXO Partners worth $7,572,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in TXO Partners in the 4th quarter valued at $4,609,000. Total Wealth Planning & Management Inc. raised its position 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 worth $1,788,000 after purchasing an additional 3,274 shares during the last quarter. Wealthedge Investment Advisors LLC purchased a new stake in shares of TXO Partners during the 4th quarter valued at about $1,169,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its stake in shares of TXO Partners by 11.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock worth $1,063,000 after purchasing an additional 5,500 shares in the last quarter. Finally, CWA Asset Management Group LLC lifted its position in TXO Partners by 29.1% during the first quarter. CWA Asset Management Group LLC now owns 50,124 shares of the company's stock valued at $960,000 after purchasing an additional 11,294 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.
TXO Partners Trading Down 2.4%
Shares of TXO stock traded down $0.36 during mid-day trading on Monday, reaching $14.34. 273,945 shares of the stock traded hands, compared to its average volume of 191,827. The stock's fifty day simple moving average is $15.18 and its two-hundred day simple moving average is $16.96. The company has a market cap of $593.25 million, a price-to-earnings ratio of 43.46 and a beta of 0.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. TXO Partners LP has a 1-year low of $14.08 and a 1-year high of $20.93.
TXO Partners Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 15th will be issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Friday, August 15th. TXO Partners's dividend payout ratio is presently 739.39%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the company. Wall Street Zen upgraded TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 price target (up from $23.00) on shares of TXO Partners in a research report on Friday, July 25th. Finally, Stifel Nicolaus assumed coverage on TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price target on the stock.
Read Our Latest Stock Analysis on TXO
Insider Transactions at TXO Partners
In other news, Director Bob R. Simpson bought 2,250,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $15.00 per share, with a total value of $33,750,000.00. Following the purchase, the director owned 6,750,000 shares of the company's stock, valued at $101,250,000. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lawrence S. Massaro acquired 20,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average cost of $15.00 per share, with a total value of $300,000.00. Following the completion of the acquisition, the director owned 23,900 shares of the company's stock, valued at $358,500. The trade was a 512.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 3,473,000 shares of company stock valued at $52,095,540.
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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