TXO Partners (NYSE:TXO) Reaches New 1-Year High – Time to Buy?

TXO Partners LP (NYSE:TXO)’s share price reached a new 52-week high during trading on Monday . The stock traded as high as $15.58 and last traded at $15.4160, with a volume of 10457 shares trading hands. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TXO shares. Stifel Nicolaus assumed coverage on TXO Partners in a report on Thursday. They set a “buy” rating and a $17.00 price target on the stock. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $17.50.

TXO Partners Trading Down 0.5%

The company has a market cap of $851.71 million, a price-to-earnings ratio of -19.95 and a beta of 0.06. The firm has a 50 day moving average price of $13.81 and a two-hundred day moving average price of $13.08. 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 (NYSE:TXO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The company had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. As a group, equities analysts forecast that TXO Partners LP will post 0.66 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a $0.40 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.4%. TXO Partners’s dividend payout ratio is presently -207.79%.

Insider Activity at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the transaction, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have acquired 500,000 shares of company stock valued at $6,898,945.

Institutional Trading of TXO Partners

A number of institutional investors have recently bought and sold shares of the company. ING Groep NV raised its position in shares of TXO Partners by 24.8% in the 4th quarter. ING Groep NV now owns 504,000 shares of the company’s stock worth $5,378,000 after acquiring an additional 100,000 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $4,469,000. Energy Income Partners LLC boosted its position in shares of TXO Partners by 27.5% during the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after purchasing an additional 312,120 shares in the last quarter. Hennessy Advisors Inc. acquired a new stake in TXO Partners during the second quarter worth approximately $488,000. Finally, 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 purchasing an additional 270,465 shares during the period. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing, exploiting and operating conventional energy properties in the United States. Its operations include the production of crude oil, natural gas and natural gas liquids from both operated and non-operated assets.

The company’s asset base is concentrated primarily in the Permian Basin and the San Juan Basin, including properties in New Mexico and surrounding areas. TXO emphasizes mature, producing properties that can provide ongoing production and cash flow through development, optimization and operational improvements.

TXO Partners was established as a publicly traded limited partnership in the 2020s and is headquartered in Midland, Texas.