CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Sells 3,370 Shares of TXO Partners, L.P. (NYSE:TXO)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT reduced its position in shares of TXO Partners, L.P. (NYSE:TXO) by 1.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,630 shares of the company’s stock after selling 3,370 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in TXO Partners were worth $4,406,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Clear Street Derivatives LLC purchased a new position in TXO Partners during the 3rd quarter valued at about $8,059,000. Sei Investments Co. bought a new position in TXO Partners in the second quarter worth approximately $2,126,000. CWA Asset Management Group LLC purchased a new stake in TXO Partners during the fourth quarter worth $654,000. PFG Investments LLC bought a new stake in TXO Partners during the 3rd quarter valued at $639,000. Finally, Merit Financial Group LLC purchased a new position in shares of TXO Partners in the 4th quarter valued at $505,000. 27.44% of the stock is owned by institutional investors.

TXO Partners Trading Down 1.1 %

Shares of NYSE TXO opened at $19.15 on Friday. TXO Partners, L.P. has a 1-year low of $15.22 and a 1-year high of $23.56. The business has a fifty day moving average price of $17.65 and a 200 day moving average price of $17.84. The stock has a market capitalization of $783.22 million, a P/E ratio of -3.22 and a beta of 0.15. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, November 5th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The firm had revenue of $68.73 million during the quarter, compared to analyst estimates of $64.60 million. Equities research analysts expect that TXO Partners, L.P. will post 0.76 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 12.12%. The ex-dividend date was Friday, November 15th. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s payout ratio is presently -39.06%.

Insider Activity

In related news, Director Keith A. Hutton purchased 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William H. Adams III bought 14,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The shares were bought at an average cost of $16.93 per share, for a total transaction of $237,020.00. Following the completion of the acquisition, the director now owns 92,784 shares of the company’s stock, valued at $1,570,833.12. This trade represents a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 75,500 shares of company stock valued at $1,223,690.

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.