Insider Buying: TXO Partners (NYSE:TXO) Director Purchases $3,364,021.30 in Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 245,549 shares of the stock in a transaction dated Thursday, May 21st. The stock was bought at an average price of $13.70 per share, with a total value of $3,364,021.30. Following the purchase, the director directly owned 8,195,549 shares in the company, valued at $112,279,021.30. This represents a 3.09% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

TXO Partners Stock Performance

NYSE:TXO opened at $12.94 on Friday. The company has a fifty day moving average of $12.63 and a 200-day moving average of $12.19. The firm has a market capitalization of $714.92 million, a P/E ratio of -7.03 and a beta of 0.02. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.46. TXO Partners LP has a twelve month low of $10.12 and a twelve month high of $16.26.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). The business had revenue of $28.28 million for the quarter, compared to the consensus estimate of $110.71 million. TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. As a group, sell-side analysts anticipate that TXO Partners LP will post 0.41 EPS for the current year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were paid a dividend of $0.36 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 11.1%. TXO Partners’s dividend payout ratio (DPR) is presently -78.26%.

Wall Street Analysts Forecast Growth

TXO has been the subject of a number of analyst reports. Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of TXO Partners in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their price target on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 6th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, TXO Partners presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Institutional Trading of TXO Partners

Several institutional investors have recently made changes to their positions in TXO. Hsbc Holdings PLC bought a new stake in shares of TXO Partners in the 2nd quarter worth $380,000. M&T Bank Corp grew its stake in shares of TXO Partners by 33.3% in the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock worth $301,000 after acquiring an additional 5,000 shares in the last quarter. First Trust Advisors LP bought a new stake in shares of TXO Partners in the 2nd quarter worth $5,830,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of TXO Partners by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after buying an additional 35,990 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of TXO Partners by 39.1% in the 2nd quarter. Raymond James Financial Inc. now owns 304,980 shares of the company’s stock worth $4,587,000 after buying an additional 85,684 shares during the last quarter. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.