Shares of TXO Partners LP (NYSE:TXO – Get Free Report) have received a consensus recommendation of “Buy” from the five ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $19.00.
A number of research firms recently issued reports on TXO. Stifel Nicolaus assumed coverage on shares of TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price on the stock. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday, October 8th. Stephens began coverage on shares of TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 target price for the company. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen upgraded TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th.
Check Out Our Latest Analysis on TXO
TXO Partners Stock Up 1.2%
TXO Partners (NYSE:TXO – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $116.24 million. As a group, equities research analysts forecast that TXO Partners will post 0.58 EPS for the current fiscal year.
TXO Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.0%. 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 dividend payout ratio is currently -207.79%.
Insider Transactions at TXO Partners
In related news, Director Bob Simpson acquired 125,000 shares of the stock in a transaction dated Thursday, August 13th. The shares were acquired at an average price of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the purchase, the director owned 9,500,000 shares in the company, valued at approximately $136,040,000. The trade was a 1.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders purchased 400,000 shares of company stock valued at $5,638,250.
Hedge Funds Weigh In On TXO Partners
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new stake in shares of TXO Partners during the second quarter worth about $488,000. Pin Oak Investment Advisors Inc. bought a new position in TXO Partners in the second quarter valued at approximately $4,469,000. Allied Private Wealth LLC acquired a new position in TXO Partners during the second quarter worth $30,000. Glenmede Trust Co. NA raised its holdings in shares of TXO Partners by 33.1% in the 1st 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. Finally, Bank of America Corp DE lifted its position in shares of TXO Partners by 259.3% in the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after buying an additional 270,465 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors.
About TXO Partners
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.
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