TXO Partners LP $TXO Stock Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its holdings in TXO Partners LP (NYSE:TXO) by 37.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 332,000 shares of the company’s stock after selling 199,000 shares during the quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in TXO Partners were worth $4,538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Apollon Wealth Management LLC raised its position in TXO Partners by 5.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after purchasing an additional 716 shares in the last quarter. CWA Asset Management Group LLC grew its position in shares of TXO Partners by 7.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after buying an additional 1,272 shares during the last quarter. Allied Private Wealth LLC purchased a new position in TXO Partners in the second quarter worth $30,000. First Trust Advisors LP increased its position in TXO Partners by 2.1% during the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after buying an additional 10,877 shares in the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. increased its holdings in shares of TXO Partners by 6.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company’s stock valued at $3,609,000 after acquiring an additional 17,000 shares in the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Bob Simpson bought 125,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the acquisition, the director directly owned 9,500,000 shares in the company, valued at approximately $136,040,000. This trade represents a 1.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have purchased 400,000 shares of company stock valued at $5,638,250.

TXO Partners Price Performance

Shares of NYSE TXO opened at $14.27 on Tuesday. The firm has a 50-day simple moving average of $14.37 and a 200-day simple moving average of $13.02. The stock has a market capitalization of $791.44 million, a price-to-earnings ratio of -18.54 and a beta of 0.08. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners LP has a 52 week low of $10.12 and a 52 week high of $15.58.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. The firm had revenue of $150.87 million for the quarter, compared to analyst estimates of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. On average, equities analysts predict that TXO Partners LP will post 0.60 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date was Friday, August 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s payout ratio is currently -207.79%.

Wall Street Analyst Weigh In

A number of brokerages have commented on TXO. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Weiss Ratings downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, October 8th. Stephens started coverage on shares of TXO Partners in a research note on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price objective for the company. Stifel Nicolaus began coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, Wall Street Zen raised shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $19.00.

TXO Partners Profile

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.