In a recent transaction, King Luther Jr, a director and ten percent owner of TXO Partners, L.P. (NYSE:TXO), sold 10,000 common units of the company's stock. The sale, which took place on May 24, 2024, amounted to a total of $212,428, with the price per share averaging $21.2428.
This transaction has adjusted Luther Jr's direct holdings in the company, with the post-transaction amount of common units owned totaling 2,561,530. However, it's important to note that the shares are indirectly owned through various entities. According to footnotes in the SEC filing, these shares include 1,189,400 common units held by LKCM Investment Partnership, L.P. (LIP) and 1,372,130 common units held by LKCM Private Discipline Master Fund, SPC (PDP).
Luther King Capital Management Corporation (LKCM), for which Luther Jr serves as President and controlling shareholder, is the investment adviser for both LIP and PDP. Additionally, Luther Jr is a controlling member or manager of LKCM Investment Partnership GP, LLC (LIP GP) and LKCM Private Discipline Management, L.P. (PDP GP), which are the general partner of LIP and hold all of the management shares of PDP, respectively.
It's also noted that Luther Jr disclaims beneficial ownership of the reported common units, except to the extent of his pecuniary interest therein. This disclaimer is a standard statement in SEC filings to indicate that while the individual may have control or influence over the securities, they do not necessarily have direct ownership.
The transaction was disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of a company's insiders. Investors and analysts often scrutinize such filings for insights into insider sentiment and corporate governance.
TXO Partners, L.P. is a company in the crude petroleum and natural gas industry, with a focus on energy and transportation. The company, based in Fort Worth, Texas, has undergone name changes in the past, previously known as TXO Energy Partners, L.P. and MorningStar Partners, L.P.
InvestingPro Insights
Following the recent insider transaction at TXO Partners, L.P. (NYSE:TXO), investors may be keen to understand the company's financial health and market performance. According to the latest data from InvestingPro, TXO currently holds a market capitalization of $655.58 million. Despite a challenging period with a revenue decline of 30.07% for the last twelve months as of Q1 2024, the company has shown resilience with a strong return over the last three months, posting a 27.63% increase.
InvestingPro Tips highlight that TXO pays a significant dividend to shareholders, boasting a dividend yield of 12.27% as of May 2024. This could be an attractive point for income-focused investors, especially considering the company's low price volatility, which suggests stability in its share price movements. Moreover, analysts predict that TXO will return to profitability this year, which could signal a potential turnaround for the company. For those interested in further insights, there are 7 additional InvestingPro Tips available, offering a deeper dive into TXO's financials and performance metrics.
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