TXO Partners (NYSE:TXO) Upgraded to “Hold” at Zacks Research

TXO Partners (NYSE:TXO) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

TXO has been the topic of several other research reports. Raymond James Financial reiterated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. Wall Street Zen lowered TXO Partners from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Finally, Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

TXO Partners Price Performance

Shares of NYSE TXO opened at $13.56 on Tuesday. The business has a fifty day moving average price of $12.95 and a two-hundred day moving average price of $12.61. The stock has a market capitalization of $749.33 million, a PE ratio of -7.37 and a beta of 0.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. TXO Partners has a fifty-two week low of $10.12 and a fifty-two week high of $15.35.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The business had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%. As a group, equities analysts predict that TXO Partners will post 0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Bob R. Simpson acquired 500,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $12.67 per share, for a total transaction of $6,335,000.00. Following the completion of the acquisition, the director owned 7,500,000 shares of the company’s stock, valued at approximately $95,025,000. This represents a 7.14% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought a total of 2,272,365 shares of company stock worth $29,988,110 in the last three months.

Institutional Inflows and Outflows

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

TXO Partners Company Profile

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.