TXO Partners (NYSE:TXO) Raised to Strong-Buy at Zacks Research

TXO Partners (NYSE:TXO) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Wall Street Zen raised TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $18.50.

TXO Partners Stock Performance

Shares of NYSE TXO opened at $15.08 on Thursday. TXO Partners has a 1-year low of $10.12 and a 1-year high of $15.27. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock’s 50-day moving average is $13.52 and its 200 day moving average is $12.98. The stock has a market cap of $836.13 million, a price-to-earnings ratio of -19.58 and a beta of 0.06.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The company had revenue of $150.87 million for the quarter, compared to analysts’ expectations of $116.24 million. On average, sell-side analysts anticipate that TXO Partners will post 0.58 EPS for the current fiscal year.

Insider Transactions at TXO Partners

In other TXO Partners news, Director Bob Simpson purchased 125,000 shares of TXO Partners stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the transaction, the director directly owned 9,500,000 shares of the company’s stock, valued at $136,040,000. This trade represents a 1.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 500,000 shares of company stock valued at $6,898,945 over the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TXO. CIBC Private Wealth Group LLC lifted its holdings in TXO Partners by 12.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,034,567 shares of the company’s stock valued at $21,709,000 after purchasing an additional 226,600 shares in the last quarter. Energy Income Partners LLC raised its holdings in TXO Partners by 27.5% during the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of TXO Partners by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock valued at $10,767,000 after acquiring an additional 35,990 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in shares of TXO Partners in the fourth quarter valued at about $5,586,000. Finally, First Trust Advisors LP boosted its stake in shares of TXO Partners by 2.1% in the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after acquiring an additional 10,877 shares during the period. 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.