TXO Partners (NYSE:TXO) Director Buys 33,591 Shares of Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 33,591 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were bought at an average cost of $13.87 per share, with a total value of $465,907.17. Following the purchase, the director owned 9,766,430 shares in the company, valued at approximately $135,460,384.10. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Trading Down 4.7%

Shares of TXO stock traded down $0.66 during trading hours on Friday, hitting $13.35. 359,993 shares of the company were exchanged, compared to its average volume of 186,609. The firm has a market cap of $740.04 million, a PE ratio of -9.33 and a beta of 0.07. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $15.58. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The firm has a fifty day moving average of $14.22 and a 200 day moving average of $13.22.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The company had revenue of $55.09 million during the quarter, compared to analysts’ expectations of $102.05 million. Analysts expect that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be issued a $0.44 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 13.2%. TXO Partners’s dividend payout ratio (DPR) is -111.89%.

Institutional Trading of TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Energy Income Partners LLC raised its holdings in TXO Partners by 27.5% in the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after buying an additional 312,120 shares during the period. First Trust Advisors LP grew its stake in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after buying an additional 10,877 shares during the period. Bank of America Corp DE grew its stake in TXO Partners by 259.3% during the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after buying an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the second quarter worth approximately $4,469,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of TXO Partners in the third quarter worth $4,305,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on TXO shares. Wall Street Zen cut shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 7th. Stifel Nicolaus assumed coverage on TXO Partners in a research report on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price on the stock. Zacks Research upgraded TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Finally, Stephens began coverage on TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $19.00.

TXO Partners Company Profile

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company’s activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.