Bob Simpson Acquires 151,597 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXOGet Free Report) Director Bob Simpson bought 151,597 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was acquired at an average cost of $12.95 per share, for a total transaction of $1,963,181.15. Following the acquisition, the director directly owned 7,801,597 shares of the company’s stock, valued at $101,030,681.15. The trade was a 1.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

TXO Partners Stock Up 0.6%

NYSE:TXO traded up $0.07 during trading hours on Friday, hitting $13.04. The company’s stock had a trading volume of 324,509 shares, compared to its average volume of 213,490. The stock has a market capitalization of $720.55 million, a P/E ratio of -7.09 and a beta of 0.02. The stock has a fifty day moving average of $12.46 and a 200-day moving average of $12.18. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $16.26.

TXO Partners (NYSE:TXOGet Free Report) last posted its earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.30). The business had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $110.71 million. TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. On average, equities analysts forecast that TXO Partners LP will post 0.41 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 15th will be paid a $0.36 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.30. This represents a $1.44 annualized dividend and a yield of 11.0%. The ex-dividend date is Friday, May 15th. TXO Partners’s payout ratio is currently -65.22%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently made changes to their positions in the business. Royal Bank of Canada boosted its stake in shares of TXO Partners by 100.2% during the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock worth $28,000 after buying an additional 1,303 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in shares of TXO Partners by 0.8% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 181,500 shares of the company’s stock worth $2,550,000 after buying an additional 1,500 shares during the period. State of Wyoming acquired a new stake in shares of TXO Partners during the second quarter worth about $45,000. Arlington Trust Co LLC acquired a new stake in shares of TXO Partners during the third quarter worth about $56,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of TXO Partners during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on TXO. Weiss Ratings downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research note on Wednesday, April 29th. Wall Street Zen downgraded shares of TXO Partners from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. Finally, Stifel Nicolaus upped their price objective on shares of TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $18.50.

View Our Latest Stock Analysis on TXO

TXO Partners Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for TXO Partners (NYSE:TXO)

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