Raymond James Financial Inc. Invests $4.61 Million in TXO Partners, L.P. (NYSE:TXO)

Raymond James Financial Inc. acquired a new stake in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 273,674 shares of the company's stock, valued at approximately $4,609,000. Raymond James Financial Inc. owned approximately 0.67% of TXO Partners at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of TXO. CIBC Private Wealth Group LLC boosted its stake in shares of TXO Partners by 41.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock worth $17,795,000 after buying an additional 313,049 shares during the last quarter. CWA Asset Management Group LLC bought a new position in TXO Partners in the 4th quarter valued at $654,000. Merit Financial Group LLC purchased a new stake in shares of TXO Partners during the 4th quarter valued at $505,000. Childress Capital Advisors LLC bought a new stake in shares of TXO Partners during the 4th quarter worth $423,000. Finally, Boston Partners purchased a new stake in TXO Partners during the fourth quarter worth about $375,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Stock Performance

TXO stock traded down $0.33 during midday trading on Wednesday, reaching $16.67. 42,746 shares of the company's stock traded hands, compared to its average volume of 100,628. The firm has a market capitalization of $686.27 million, a PE ratio of -2.81 and a beta of 0.09. The company has a 50-day moving average price of $18.34 and a two-hundred day moving average price of $17.99. TXO Partners, L.P. has a 52 week low of $15.22 and a 52 week high of $23.56. 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 (NYSE:TXO - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million during the quarter, compared to analysts' expectations of $83.68 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. As a group, equities analysts anticipate that TXO Partners, L.P. will post 1.02 EPS for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were issued a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 14.64%. This is a boost from TXO Partners's previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, March 14th. TXO Partners's dividend payout ratio (DPR) is currently 353.62%.

Analyst Ratings Changes

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

Insider Transactions at TXO Partners

In other TXO Partners news, CEO Gary D. Simpson sold 31,517 shares of the firm's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the sale, the chief executive officer now directly owns 408,053 shares in the company, valued at $7,785,651.24. This trade represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Scott T. Agosta sold 5,775 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $107,357.25. Following the completion of the sale, the chief accounting officer now directly owns 159,498 shares in the company, valued at approximately $2,965,067.82. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,994 shares of company stock worth $851,882.

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.