TXO Partners (NYSE:TXO) Director Purchases $5,134,918.23 in Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 369,153 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was bought at an average price of $13.91 per share, for a total transaction of $5,134,918.23. Following the completion of the purchase, the director directly owned 9,000,000 shares in the company, valued at approximately $125,190,000. This represents a 4.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

TXO Partners Price Performance

Shares of TXO stock opened at $13.42 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The company has a market capitalization of $741.04 million, a P/E ratio of -7.29 and a beta of 0.06. The company’s 50-day simple moving average is $12.71 and its two-hundred day simple moving average is $12.18. TXO Partners LP has a one year low of $10.12 and a one year high of $16.26.

TXO Partners (NYSE:TXO) last issued its earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). The company had revenue of $28.28 million during the quarter, compared to the consensus estimate of $110.71 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 anticipate that TXO Partners LP will post 0.41 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 10.7%. The ex-dividend date of this dividend was Friday, May 15th. This is a boost from TXO Partners’s previous quarterly dividend of $0.30. TXO Partners’s dividend payout ratio is currently -78.26%.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA lifted its position in TXO Partners by 33.1% during the first quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company’s stock valued at $1,314,000 after acquiring an additional 26,000 shares during the last quarter. Bank of America Corp DE lifted its position 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 valued at $4,715,000 after acquiring an additional 270,465 shares during the last quarter. Energy Income Partners LLC lifted its position 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 last quarter. First Trust Advisors LP lifted its position in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares during the last quarter. Finally, Fund Advisors of America Inc FL purchased a new stake in TXO Partners during the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analyst Weigh In

TXO has been the subject of several research reports. Stifel Nicolaus upped their price target on shares of TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Wall Street Zen cut shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, TXO Partners presently has an average rating of “Moderate Buy” and a consensus 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.