TXO Partners, L.P. (NYSE:TXO) Director Keith A. Hutton Purchases 700,000 Shares

TXO Partners, L.P. (NYSE:TXO) Director Keith A. Hutton acquired 700,000 shares of the stock in a transaction dated Thursday, May 15th. The shares were bought at an average cost of $15.00 per share, with a total value of $10,500,000.00. Following the completion of the purchase, the director now directly owns 4,820,215 shares in the company, valued at approximately $72,303,225. This trade represents a 16.99% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

TXO Partners Stock Performance

Shares of TXO Partners stock opened at $15.40 on Friday. The firm has a market cap of $637.07 million, a PE ratio of -2.59 and a beta of 0.17. The firm’s 50-day simple moving average is $17.71 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 $14.85 and a 1 year high of $23.56.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The business had revenue of $84.33 million for the quarter, compared to analyst estimates of $82.00 million. Equities analysts forecast that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 annualized dividend and a dividend yield of 15.84%. The ex-dividend date is Friday, May 16th. TXO Partners’s dividend payout ratio (DPR) is presently 580.95%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. boosted its holdings in shares of TXO Partners by 0.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company’s stock valued at $4,915,000 after acquiring an additional 821 shares in the last quarter. Total Wealth Planning & Management Inc. boosted its holdings in shares of TXO Partners by 3.6% in the first quarter. Total Wealth Planning & Management Inc. now owns 93,334 shares of the company’s stock valued at $1,788,000 after acquiring an additional 3,274 shares in the last quarter. CWM LLC bought a new position in shares of TXO Partners in the first quarter valued at approximately $77,000. Wilmington Savings Fund Society FSB bought a new position in shares of TXO Partners in the fourth quarter valued at approximately $72,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of TXO Partners by 109.7% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock valued at $150,000 after acquiring an additional 4,664 shares in the last quarter. 27.44% of the stock is currently owned by 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.