TXO Partners, L.P. (NYSE:TXO) director Luther King Jr. has recently sold a significant number of shares in the company, according to the latest filings. On two separate occasions, King disposed of a total of 20,000 common units at varying prices, resulting in an aggregate sale amount exceeding $433,000.
The transactions took place on May 22 and May 23, with 10,000 shares sold each day. The prices per share for these sales ranged between $21.1642 and $22.1977. After the sales, King's indirectly held shares in the company amounted to 2,571,530 common units.
The filings also revealed that the shares were sold on behalf of a separately managed account for which Luther King Capital Management Corporation serves as the investment adviser. The footnotes in the document further clarified the nature of King's ownership, stating that the shares included those held by LKCM Investment Partnership, L.P., LKCM Private Discipline Master Fund, SPC, and the separately managed account. King, who is the President and controlling shareholder of LKCM and has controlling interests in the general partnerships managing these funds, has disclaimed beneficial ownership of the reported common units except to the extent of his pecuniary interest.
Investors and market watchers often monitor insider transactions such as these for insights into executives' perspectives on their company's stock. However, these transactions may not always provide a clear signal, as insiders might sell shares for various reasons unrelated to their outlook on the company's future performance.
InvestingPro Insights
As market participants digest the news of TXO Partners, L.P. (NYSE:TXO) director Luther King Jr.'s recent share sales, it's valuable to consider the company's financial health and stock performance for a comprehensive view. According to InvestingPro data, TXO Partners has a market capitalization of $653.73 million, reflecting its size and market value. Despite a challenging period with a revenue decline of 30.07% in the last twelve months as of Q1 2024, the company has managed a significant gross profit margin of 50.82%. This indicates that while sales have decreased, TXO Partners retains a robust ability to control the cost of goods sold and maintain profitability on each sale.
Investors looking for income may find TXO Partners' dividend yield of 12.3% particularly attractive, especially in a low-interest-rate environment. This aligns with one of the InvestingPro Tips highlighting the company's commitment to returning value to shareholders through dividends. Additionally, despite recent sales pressures, the stock has shown a strong return over the last three months, with a price total return of 23.5%. This might suggest a level of market confidence in the firm's ability to navigate through current challenges.
For those seeking further insights and analysis, there are additional InvestingPro Tips available for TXO Partners. These include expectations for the company's profitability in the current year and its stock's low price volatility, which might appeal to investors looking for stable investment options. To delve deeper into these metrics and discover more expert tips, interested readers can explore InvestingPro for TXO Partners at https://www.investing.com/pro/TXO. For a limited time, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. With 7 more InvestingPro Tips listed, there's a wealth of information to help investors make informed decisions.
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