TXO Partners, L.P. (NYSE:TXO) Short Interest Down 23.3% in June

TXO Partners, L.P. (NYSE:TXO) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 34,500 shares, a decrease of 23.3% from the May 31st total of 45,000 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 59,000 shares, the days-to-cover ratio is presently 0.6 days.

TXO Partners Price Performance

TXO Partners stock traded up $0.16 during mid-day trading on Friday, hitting $20.16. 151,000 shares of the company were exchanged, compared to its average volume of 75,174. TXO Partners has a 12-month low of $17.20 and a 12-month high of $23.56. The company has a market capitalization of $623.75 million, a P/E ratio of -3.45 and a beta of 0.10. The business’s 50 day simple moving average is $20.90 and its two-hundred day simple moving average is $19.71. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. Analysts forecast that TXO Partners will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 12.90%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -44.44%.

Insiders Place Their Bets

In other news, major shareholder Global Endowment Management, L sold 41,978 shares of TXO Partners stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.03, for a total transaction of $756,863.34. Following the completion of the sale, the insider now directly owns 1,089,868 shares in the company, valued at approximately $19,650,320.04. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, major shareholder Global Endowment Management, L sold 41,978 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the sale, the insider now directly owns 1,089,868 shares in the company, valued at approximately $19,650,320.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bob R. Simpson acquired 100,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the completion of the purchase, the chief executive officer now owns 4,500,000 shares in the company, valued at approximately $90,000,000. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 137,878 shares of company stock worth $2,583,684.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TXO. Brown Brothers Harriman & Co. acquired a new stake in shares of TXO Partners in the fourth quarter worth approximately $183,000. King Luther Capital Management Corp raised its stake in TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares during the period. Raymond James Financial Services Advisors Inc. boosted its holdings in shares of TXO Partners by 35.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after purchasing an additional 18,755 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of TXO Partners during the 4th quarter valued at $690,000. Finally, Energy Income Partners LLC raised its position in shares of TXO Partners by 37.7% in the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after buying an additional 135,029 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.