Keith A. Hutton Acquires 60,000 Shares of TXO Partners, L.P. (NYSE:TXO) Stock

TXO Partners, L.P. (NYSE:TXO) Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction that occurred on Wednesday, December 18th. The stock was purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the completion of the acquisition, the director now directly owns 4,100,215 shares in the company, valued at $65,767,448.60. This represents a 1.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Price Performance

NYSE:TXO traded down $0.18 during trading hours on Thursday, hitting $15.89. 135,800 shares of the stock traded hands, compared to its average volume of 75,802. The stock has a 50 day moving average price of $17.24 and a 200 day moving average price of $18.34. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market cap of $650.11 million, a price-to-earnings ratio of -2.68 and a beta of 0.08. TXO Partners, L.P. has a 1 year low of $15.22 and a 1 year high of $23.56.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a $0.58 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 14.60%. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s dividend payout ratio is currently -39.06%.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of TXO Partners in the third quarter valued at about $84,000. Glenmede Trust Co. NA raised its stake in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after purchasing an additional 5,831 shares during the period. Pin Oak Investment Advisors Inc. lifted its holdings in TXO Partners by 7.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock worth $5,757,000 after purchasing an additional 19,241 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners in the 3rd quarter worth approximately $559,000. Finally, PFG Investments LLC purchased a new stake in TXO Partners during the 3rd quarter valued at approximately $639,000. 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.