TXO Partners (NYSE:TXO) Stock Bumped Up to “Strong-Buy” by Stephens

TXO Partners (NYSE:TXO) was upgraded by equities research analysts at Stephens to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

TXO has been the subject of several other research reports. Wall Street Zen upgraded shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Stifel Nicolaus started coverage on shares of TXO Partners in a research report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective on the stock. Finally, 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. Three 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.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $19.00.

TXO Partners Stock Performance

NYSE:TXO opened at $14.35 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners has a 12-month low of $10.12 and a 12-month high of $15.58. The stock has a 50-day moving average price of $14.30 and a 200 day moving average price of $13.31. The stock has a market capitalization of $795.59 million, a P/E ratio of -18.64 and a beta of 0.08.

TXO Partners (NYSE:TXO) last posted its quarterly 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. The company had revenue of $150.87 million for the quarter, compared to analysts’ expectations of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. Equities research analysts forecast that TXO Partners will post 0.58 EPS for the current fiscal year.

Insider Activity

In related news, Director Bob Simpson purchased 125,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the acquisition, the director 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 purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired 400,000 shares of company stock worth $5,638,250 over the last ninety days.

Institutional Investors Weigh In On TXO Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pin Oak Investment Advisors Inc. bought a new position in TXO Partners in the 2nd quarter worth about $4,469,000. Energy Income Partners LLC raised its stake in shares of 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 in the last quarter. Bank of America Corp DE raised its stake in shares of 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 in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of TXO Partners in the second quarter valued at approximately $488,000. Finally, Glenmede Trust Co. NA boosted its holdings in shares of TXO Partners by 33.1% in the first quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company’s stock valued at $1,314,000 after purchasing an additional 26,000 shares during the period. Institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

TXO Partners, L.P. (NYSE:TXO) is an independent oil and natural gas company focused on acquiring, developing, and operating producing properties in the United States. The company emphasizes oil-weighted assets and seeks to generate production from mature properties through development, workovers, operational improvements, and enhanced recovery activities.

TXO Partners’ operations are concentrated in the Permian Basin, including producing assets in parts of Texas and New Mexico. Its portfolio includes conventional and unconventional oil and natural gas properties, with associated natural gas liquids and other hydrocarbons produced alongside crude oil and natural gas.

The company was formed as a publicly traded master limited partnership and began trading on the New York Stock Exchange in 2022.