TXO Partners, L.P. (NYSE:TXO) Sees Large Drop in Short Interest

TXO Partners, L.P. (NYSE:TXO - Get Free Report) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 21,100 shares, a decrease of 31.0% from the March 31st total of 30,600 shares. Based on an average daily trading volume, of 40,500 shares, the short-interest ratio is presently 0.5 days. Currently, 0.1% of the company's stock are sold short.

TXO Partners Stock Up 0.6 %

NYSE TXO traded up $0.11 during trading hours on Friday, hitting $18.75. 55,700 shares of the company traded hands, compared to its average volume of 32,702. The business's 50-day moving average is $18.19 and its 200-day moving average is $18.19. TXO Partners has a twelve month low of $17.20 and a twelve month high of $23.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market capitalization of $576.56 million, a price-to-earnings ratio of -5.65 and a beta of -0.11.

TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The firm had revenue of $91.97 million during the quarter, compared to analysts' expectations of $70.76 million. Sell-side analysts anticipate that TXO Partners will post 1.34 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.58 dividend. This is a positive change from TXO Partners's previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 14th. This represents a $2.32 annualized dividend and a yield of 12.37%. TXO Partners's dividend payout ratio is currently -69.88%.

Institutional Trading of TXO Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. raised its stake in TXO Partners by 35.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company's stock valued at $1,282,000 after buying an additional 18,755 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in TXO Partners in the fourth quarter valued at approximately $4,346,000. Brown Brothers Harriman & Co. bought a new stake in TXO Partners in the fourth quarter valued at approximately $183,000. Hsbc Holdings PLC bought a new stake in TXO Partners in the fourth quarter valued at approximately $2,685,000. Finally, King Luther Capital Management Corp raised its stake in TXO Partners by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company's stock valued at $47,114,000 after buying an additional 15,000 shares during the period. Institutional investors own 27.44% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXO. Raymond James reduced their price objective on TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating for the company in a research report on Wednesday, January 24th. Stifel Nicolaus reduced their price target on TXO Partners from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Tuesday, January 23rd.

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.