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FORT WORTH, TX—Brent W. Clum, Co-Chief Executive Officer and Chief Financial Officer at TXO Partners, L.P. (NYSE:TXO), recently sold 31,517 common units of the company stock, valued at approximately $601,344. The sale, executed on April 1, was conducted at a price of $19.08 per unit. This transaction was part of a Rule 10b5-1 trading arrangement, aimed at covering tax withholding obligations related to the vesting of certain equity awards. The $789 million market cap company has shown strong momentum with a 17.4% return year-to-date, according to InvestingPro data.
In addition to the sale, Clum acquired 200,000 common units on the same day. These acquisitions were split between a grant of common units with immediate vesting and phantom units, which are set to vest on April 1, 2026. The acquired units were valued at zero dollars per unit, as they were granted as part of compensation packages. The company stands out for its significant shareholder returns, offering a notable 12.7% dividend yield.
Following these transactions, Clum holds 638,820 shares directly. TXO Partners, a company involved in crude petroleum and natural gas, is managed by TXO GP, LLC, with Clum playing a key role as both an executive and director. InvestingPro analysis reveals 12 additional key insights about TXO’s financial health and market position.
In other recent news, TXO Partners, L.P. has announced a significant change in its executive leadership. Bob R. Simpson will retire as Chief Executive Officer of the company’s general partner, effective April 1, 2025, but will continue to serve as Chairman of the Board of Directors. As part of this transition, the company has appointed Gary D. Simpson and Brent W. Clum as Co-Chief Executive Officers. Gary D. Simpson, currently the President of Production and Development, will also join the Board of Directors while maintaining his existing responsibilities. Brent W. Clum will continue in his roles as President of Business Operations, Chief Financial Officer, and Director of the General Partner, alongside his new position. Both Gary D. Simpson and Brent W. Clum have expressed their commitment to upholding TXO Partners’ mission and ensuring the continuation of its success. Bob R. Simpson has expressed confidence in the new leadership, highlighting their experience and vision. This leadership transition marks a strategic move in the company’s executive structure as it prepares for its next phase of growth in the energy industry.
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