Gary D. Simpson Sells 31,517 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) CEO Gary D. Simpson sold 31,517 shares of the company’s stock in a transaction on 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TXO Partners Stock Down 2.4 %

TXO stock opened at $18.69 on Thursday. TXO Partners, L.P. has a 52 week low of $15.22 and a 52 week high of $23.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market cap of $769.43 million, a P/E ratio of -3.15 and a beta of 0.09. The company’s 50-day moving average price is $19.27 and its 200 day moving average price is $18.07.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million during the quarter, compared to analysts’ expectations of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. On average, research analysts expect that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 14th were given a $0.61 dividend. The ex-dividend date of this dividend was Friday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.44 annualized dividend and a dividend yield of 13.06%. TXO Partners’s payout ratio is currently 353.62%.

Hedge Funds Weigh In On TXO Partners

Several hedge funds have recently added to or reduced their stakes in TXO. CWA Asset Management Group LLC acquired a new stake in shares of TXO Partners in the fourth quarter valued at approximately $654,000. Merit Financial Group LLC purchased a new position in TXO Partners during the fourth quarter worth $505,000. Glenmede Trust Co. NA increased its position in TXO Partners by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after buying an additional 5,831 shares in the last quarter. M&T Bank Corp acquired a new position in shares of TXO Partners in the fourth quarter worth $253,000. Finally, Childress Capital Advisors LLC purchased a new stake in shares of TXO Partners in the fourth quarter valued at $423,000. 27.44% of the stock is currently 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.