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FORT WORTH, Texas—Gary D. Simpson, Co-Chief Executive Officer and a director at TXO Partners, L.P. (NASDAQ:TXO), recently sold a portion of his holdings in the company. According to a recent SEC filing, Simpson sold 31,517 common units at a price of $19.08 per unit, amounting to a total transaction value of $601,344. The transaction comes as TXO, with a market capitalization of approximately $789 million, maintains a notable dividend yield of ~13% and trades at a P/E ratio of 30.
The sale was conducted on April 1, 2025, as part of a Rule 10b5-1 trading plan. This plan mandates the sale of units to satisfy tax withholding obligations related to the vesting of certain equity awards. The transaction was not discretionary, as it was required by the company’s policy to cover tax obligations through such sales. According to InvestingPro analysis, TXO operates with a moderate debt-to-equity ratio of 0.26 and shows promising growth prospects, with net income expected to increase this year.
In addition to the sale, Simpson acquired 100,000 common units through a grant that vested immediately and another 100,000 phantom units, which will vest in one year on April 1, 2026. Following these transactions, Simpson holds 408,053 common units directly.
TXO Partners, L.P., headquartered in Fort Worth, operates in the crude petroleum and natural gas industry. The company is managed by the directors and executive officers of its general partner, TXO GP, LLC.
In other recent news, TXO Partners has announced a significant change in its executive leadership. Bob R. Simpson, the current Chief Executive Officer of the company’s general partner, will retire effective April 1, 2025, but will continue as Chairman of the Board of Directors. In response to this transition, the company has appointed Gary D. Simpson and Brent W. Clum as Co-Chief Executive Officers. Gary D. Simpson, who is 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, in addition to his new position. Bob R. Simpson expressed confidence in the new leadership team, citing their experience and vision as crucial for the company’s future. Both new co-CEOs have acknowledged the impact of Bob R. Simpson’s leadership and emphasized their commitment to the company’s mission and legacy. This leadership transition is part of a strategic move as TXO Partners prepares for its next phase of growth in the energy sector.
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