Empirical Financial Services LLC d.b.a. Empirical Wealth Management Makes New Investment in TXO Partners, L.P. (NYSE:TXO)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in TXO Partners, L.P. (NYSE:TXO) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 37,933 shares of the company’s stock, valued at approximately $690,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management owned 0.12% of TXO Partners as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Venturi Wealth Management LLC lifted its holdings in TXO Partners by 64.3% in the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after acquiring an additional 900 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of TXO Partners in the 3rd quarter worth approximately $206,000. Finally, Raymond James & Associates boosted its position in TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after purchasing an additional 3,331 shares during the period. Institutional investors own 27.44% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28. Following the completion of the sale, the insider now directly owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 117,878 shares of company stock valued at $2,149,284 over the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on TXO shares. Stifel Nicolaus dropped their target price on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Raymond James cut their price objective on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th.

TXO Partners Stock Up 6.8 %

TXO opened at $19.02 on Thursday. The stock’s 50 day moving average price is $18.32 and its 200 day moving average price is $18.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a market cap of $584.87 million, a P/E ratio of -5.73 and a beta of -0.18. TXO Partners, L.P. has a 12 month low of $17.20 and a 12 month high of $23.57.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72. The business had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. As a group, research analysts predict that TXO Partners, L.P. will post 1.34 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th will be issued a $0.65 dividend. The ex-dividend date is Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a dividend yield of 13.67%. TXO Partners’s dividend payout ratio (DPR) is -69.88%.

TXO Partners 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.