TXO Partners, L.P. (NYSE:TXO) Short Interest Up 160.5% in May

TXO Partners, L.P. (NYSE:TXO - Get Free Report) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totalling 341,000 shares, a growth of 160.5% from the April 30th total of 130,900 shares. Currently, 0.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 205,000 shares, the days-to-cover ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

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

TXO Partners Trading Up 0.9%

Shares of NYSE:TXO traded up $0.14 during midday trading on Tuesday, reaching $15.01. The company had a trading volume of 392,472 shares, compared to its average volume of 129,096. 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 has a 1-year low of $14.85 and a 1-year high of $22.39. The firm has a market cap of $620.73 million, a price-to-earnings ratio of -2.53 and a beta of 0.17. The company has a fifty day simple moving average of $16.55 and a two-hundred day simple moving average of $17.91.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $84.33 million during the quarter, compared to analysts' expectations of $82.00 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. Research analysts predict that TXO Partners will post 1.02 earnings per share for the current year.

TXO Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were paid a $0.61 dividend. This represents a $2.44 annualized dividend and a yield of 16.26%. The ex-dividend date of this dividend was Friday, May 16th. TXO Partners's dividend payout ratio is currently 580.95%.

Insider Activity at TXO Partners

In related news, Director Bob R. Simpson purchased 2,250,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $15.00 per share, for a total transaction of $33,750,000.00. Following the transaction, the director now directly owns 6,750,000 shares of the company's stock, valued at $101,250,000. This trade represents a 50.00% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary D. Simpson sold 31,517 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 408,053 shares of the company's stock, valued at $7,785,651.24. This trade represents a 7.17% decrease in their position. The disclosure for this sale can be found here. Insiders bought 3,473,000 shares of company stock valued at $52,095,540 over the last 90 days.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently bought and sold shares of TXO. Wilmington Savings Fund Society FSB purchased a new stake in TXO Partners in the 4th quarter worth about $72,000. CWM LLC purchased a new stake in TXO Partners in the 1st quarter worth about $77,000. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of TXO Partners during the 1st quarter worth about $216,000. Atria Wealth Solutions Inc. purchased a new stake in shares of TXO Partners during the 1st quarter worth about $230,000. Finally, M&T Bank Corp purchased a new stake in shares of TXO Partners during the 4th quarter worth about $253,000. 27.44% of the stock is owned by hedge funds and other 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.