Bob Simpson Acquires 50,000 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 50,000 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average price of $14.17 per share, for a total transaction of $708,500.00. Following the acquisition, the director owned 9,250,000 shares in the company, valued at approximately $131,072,500. The trade was a 0.54% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

TXO Partners Price Performance

Shares of NYSE TXO opened at $14.43 on Thursday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. TXO Partners LP has a fifty-two week low of $10.12 and a fifty-two week high of $14.83. The firm has a market capitalization of $800.14 million, a PE ratio of -18.74 and a beta of 0.04. The stock’s 50-day simple moving average is $13.04 and its 200-day simple moving average is $12.72.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The firm 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 5.59% and a negative net margin of 9.23%. As a group, equities research analysts forecast that TXO Partners LP will post 0.13 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 11.1%. This is a boost from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s payout ratio is presently -187.01%.

Institutional Investors Weigh In On TXO Partners

Several large investors have recently modified their holdings of TXO. JPMorgan Chase & Co. purchased a new position in shares of TXO Partners during the fourth quarter worth approximately $5,586,000. First Trust Advisors LP purchased a new stake in TXO Partners in the 2nd quarter valued at $5,830,000. Energy Income Partners LLC boosted its stake in TXO Partners by 27.5% during the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after purchasing an additional 312,120 shares during the period. Bank of America Corp DE boosted its stake in TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after purchasing an additional 270,465 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in TXO Partners by 12.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,034,567 shares of the company’s stock worth $21,709,000 after purchasing an additional 226,600 shares during the last quarter. 27.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Zacks Research raised shares of TXO Partners from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d)” rating on shares of TXO Partners in a research report on Friday, August 7th. Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research note on Wednesday, April 29th. Finally, Wall Street Zen raised TXO Partners from a “sell” rating to a “buy” rating in a report on Saturday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TXO Partners has an average rating of “Moderate Buy” and an average price target of $18.50.

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.