Short Interest in TXO Partners, L.P. (NYSE:TXO) Rises By 160.5%

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

Analysts Set New Price Targets

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

TXO Partners Stock Performance

TXO traded down $0.13 during midday trading on Friday, reaching $14.96. The company had a trading volume of 345,117 shares, compared to its average volume of 127,176. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $618.87 million, a PE ratio of -2.52 and a beta of 0.17. TXO Partners has a 12-month low of $14.85 and a 12-month high of $22.39. The business has a 50-day moving average price of $16.73 and a two-hundred day moving average price of $17.92.

TXO Partners (NYSE:TXO - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). The company had revenue of $84.33 million during the quarter, compared to analysts' expectations of $82.00 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. On average, sell-side analysts expect that TXO Partners will post 1.02 earnings per share for the current fiscal year.

TXO Partners Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 16th were paid a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a yield of 16.31%. The ex-dividend date was Friday, May 16th. TXO Partners's payout ratio is 580.95%.

Insider Buying and Selling

In other news, Director Bob R. Simpson purchased 2,250,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average cost of $15.00 per share, for a total transaction of $33,750,000.00. Following the completion of the acquisition, the director now owns 6,750,000 shares in the company, valued at $101,250,000. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary D. Simpson sold 31,517 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total transaction of $601,344.36. Following the transaction, the chief executive officer now owns 408,053 shares in the company, valued at approximately $7,785,651.24. This trade represents a 7.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have bought 3,473,000 shares of company stock worth $52,095,540.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC bought a new stake in shares of TXO Partners in the first quarter valued at approximately $77,000. Wilmington Savings Fund Society FSB bought a new stake in shares of TXO Partners in the fourth quarter valued at approximately $72,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TXO Partners in the first quarter valued at approximately $216,000. Atria Wealth Solutions Inc. bought a new stake in shares of TXO Partners in the first quarter valued at approximately $230,000. Finally, M&T Bank Corp bought a new stake in shares of TXO Partners in the fourth quarter valued at approximately $253,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.