Wealthedge Investment Advisors LLC Takes $1.17 Million Position in TXO Partners, L.P. (NYSE:TXO)

Wealthedge Investment Advisors LLC acquired a new stake in TXO Partners, L.P. (NYSE:TXO - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 69,442 shares of the company's stock, valued at approximately $1,169,000. Wealthedge Investment Advisors LLC owned 0.17% of TXO Partners as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. M&T Bank Corp acquired a new position in shares of TXO Partners in the 4th quarter valued at about $253,000. Childress Capital Advisors LLC acquired a new position in shares of TXO Partners in the 4th quarter valued at about $423,000. Boston Partners acquired a new position in shares of TXO Partners in the 4th quarter valued at about $375,000. Raymond James Financial Inc. purchased a new position in shares of TXO Partners in the 4th quarter valued at about $4,609,000. Finally, Virtu Financial LLC purchased a new position in shares of TXO Partners in the 4th quarter valued at about $339,000. Institutional investors and hedge funds own 27.44% of the company's stock.

Insiders Place Their Bets

In other news, Director Lawrence S. Massaro acquired 20,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $300,000.00. Following the purchase, the director now owns 23,900 shares in the company, valued at approximately $358,500. This represents a 512.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Bob R. Simpson acquired 2,250,000 shares of the business's stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, with a total value of $33,750,000.00. Following the completion of the purchase, the director now owns 6,750,000 shares in the company, valued at $101,250,000. This represents a 50.00% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders bought 3,473,000 shares of company stock worth $52,095,540.

TXO Partners Price Performance

Shares of TXO Partners stock traded down $0.13 on Friday, hitting $14.96. The company's stock had a trading volume of 345,117 shares, compared to its average volume of 127,176. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. TXO Partners, L.P. has a 1 year low of $14.85 and a 1 year high of $22.39. The firm has a fifty day moving average price of $16.82 and a 200-day moving average price of $17.93. The company has a market capitalization of $618.87 million, a price-to-earnings ratio of -2.52 and a beta of 0.17.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The business had revenue of $84.33 million during the quarter, compared to analysts' expectations of $82.00 million. As a group, sell-side analysts anticipate that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were paid a dividend of $0.61 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 16.31%. TXO Partners's dividend payout ratio (DPR) is currently 580.95%.

Analyst Ratings Changes

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

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.