Wells Fargo & Company MN Reduces Holdings in TXO Partners, L.P. (NYSE:TXO)

Wells Fargo & Company MN reduced its stake in shares of TXO Partners, L.P. (NYSE:TXO - Free Report) by 94.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,090 shares of the company's stock after selling 133,348 shares during the period. Wells Fargo & Company MN's holdings in TXO Partners were worth $136,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new stake in TXO Partners during the fourth quarter valued at $72,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of TXO Partners by 109.7% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company's stock worth $150,000 after acquiring an additional 4,664 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of TXO Partners during the 4th quarter valued at about $253,000. Virtu Financial LLC purchased a new position in shares of TXO Partners in the 4th quarter valued at about $339,000. Finally, Boston Partners purchased a new position in shares of TXO Partners in the 4th quarter valued at about $375,000. 27.44% of the stock is owned by institutional investors and hedge funds.

TXO Partners Price Performance

TXO Partners stock traded up $0.20 during trading on Tuesday, reaching $17.70. The company had a trading volume of 126,416 shares, compared to its average volume of 100,954. The firm has a market capitalization of $732.21 million, a PE ratio of -2.98 and a beta of 0.17. The firm's 50-day simple moving average is $17.91 and its 200 day simple moving average is $18.02. 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 $15.22 and a 1-year high of $23.56.

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

TXO Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 13.79%. The ex-dividend date is Friday, May 16th. TXO Partners's payout ratio is 580.95%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus started coverage on TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price target on the stock.

Insiders Place Their Bets

In other TXO Partners news, CEO Gary D. Simpson sold 31,517 shares of TXO Partners stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total transaction of $601,344.36. Following the sale, the chief executive officer now owns 408,053 shares of the company's stock, valued at $7,785,651.24. The trade was a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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.