TXO Partners, L.P. (NYSE:TXO) Director Lawrence S. Massaro Buys 20,000 Shares

TXO Partners, L.P. (NYSE:TXO) Director Lawrence S. Massaro bought 20,000 shares of the company’s stock in a transaction dated Thursday, May 15th. The stock was bought at an average price of $15.00 per share, with a total value of $300,000.00. Following the acquisition, the director now owns 23,900 shares in the company, valued at approximately $358,500. This trade represents a 512.82% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

TXO Partners Price Performance

TXO Partners stock opened at $15.40 on Friday. The firm has a market capitalization of $637.07 million, a PE ratio of -2.59 and a beta of 0.17. TXO Partners, L.P. has a 12-month low of $14.85 and a 12-month high of $23.56. The firm has a 50-day moving average price of $17.71 and a 200-day moving average price of $18.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25.

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

TXO Partners Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 15.84%. The ex-dividend date is Friday, May 16th. TXO Partners’s dividend payout ratio is currently 580.95%.

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.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Merit Financial Group LLC purchased a new stake in TXO Partners in the 4th quarter valued at about $505,000. M&T Bank Corp purchased a new stake in shares of TXO Partners in the fourth quarter valued at approximately $253,000. Childress Capital Advisors LLC purchased a new stake in shares of TXO Partners in the fourth quarter valued at approximately $423,000. Boston Partners bought a new position in TXO Partners in the fourth quarter worth approximately $375,000. Finally, Raymond James Financial Inc. purchased a new position in TXO Partners during the 4th quarter worth $4,609,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.