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

Wealthedge Investment Advisors LLC bought a new stake in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 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.

Several other large investors also recently added to or reduced their stakes in TXO. CIBC Private Wealth Group LLC boosted its holdings in TXO Partners by 41.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock worth $17,795,000 after purchasing an additional 313,049 shares in the last quarter. Raymond James Financial Inc. bought a new stake in TXO Partners during the fourth quarter valued at about $4,609,000. Total Wealth Planning & Management Inc. bought a new stake in TXO Partners during the fourth quarter valued at about $1,517,000. Jane Street Group LLC bought a new stake in TXO Partners during the fourth quarter valued at about $461,000. Finally, Childress Capital Advisors LLC bought a new stake in TXO Partners during the fourth quarter valued at about $423,000. 27.44% of the stock is owned by institutional investors and hedge funds.

TXO Partners Price Performance

TXO traded down $0.13 during midday trading on Friday, reaching $14.96. 345,117 shares of the company's stock were exchanged, compared to its average volume of 127,568. The firm has a market capitalization of $618.87 million, a price-to-earnings ratio of -2.52 and a beta of 0.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners, L.P. has a one year low of $14.85 and a one year high of $22.39. The business has a 50-day simple moving average of $16.73 and a two-hundred day simple moving average of $17.93.

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

TXO Partners Dividend Announcement

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

Insider Transactions at TXO Partners

In other TXO Partners news, Director Phillip R. Kevil bought 3,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was purchased at an average price of $15.18 per share, with a total value of $45,540.00. Following the acquisition, the director now owns 27,384 shares of the company's stock, valued at approximately $415,689.12. The trade was a 12.30% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bob R. Simpson bought 2,250,000 shares of the stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of $15.00 per share, with a total value of $33,750,000.00. Following the acquisition, the director now directly owns 6,750,000 shares in the company, valued at approximately $101,250,000. This trade represents a 50.00% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 3,473,000 shares of company stock valued at $52,095,540.

Analyst Upgrades and Downgrades

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

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.