TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume

Shares of TXO Partners, L.P. (NYSE:TXO - Get Free Report) saw strong trading volume on Monday . 28,616 shares traded hands during mid-day trading, a decline of 29% from the previous session's volume of 40,108 shares.The stock last traded at $18.11 and had previously closed at $18.19.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stifel Nicolaus dropped their target price on shares of TXO Partners from $27.00 to $26.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd. Raymond James reduced their target price on shares of TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th.

TXO Partners Stock Performance

The company has a 50-day moving average of $18.31 and a 200-day moving average of $18.16. The firm has a market capitalization of $555.96 million, a P/E ratio of -5.45 and a beta of -0.18. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $91.97 million during the quarter, compared to the consensus estimate of $70.76 million. On average, equities analysts anticipate that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.58 dividend. The ex-dividend date was Thursday, March 14th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.83%. This is an increase from TXO Partners's previous quarterly dividend of $0.52. TXO Partners's payout ratio is -69.88%.

Insider Transactions at TXO Partners

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of the business's stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the transaction, the insider now owns 1,120,778 shares in the company, valued at $20,611,107.42. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders sold a total of 117,878 shares of company stock worth $2,149,284 over the last three months.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds have recently added to or reduced their stakes in the business. Venturi Wealth Management LLC grew its position in shares of TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company's stock worth $47,000 after buying an additional 900 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. bought a new stake in TXO Partners in the third quarter valued at $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in shares of TXO Partners during the fourth quarter valued at about $690,000. Finally, Hsbc Holdings PLC acquired a new position in shares of TXO Partners during the fourth quarter valued at about $2,685,000. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Company 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.