TXO Partners (NYSE:TXO) Director Purchases $1,037,955.80 in Stock

TXO Partners LP (NYSE:TXO – Get Free Report) Director Bob Simpson acquired 78,932 shares of TXO Partners stock in a transaction that occurred on Monday, November 9th. The shares were purchased at an average cost of $13.15 per share, with a total value of $1,037,955.80. Following the purchase, the director owned 9,646,043 shares of the company’s stock, valued at $126,845,465.45. This represents a 0.83% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

TXO Partners Price Performance

NYSE TXO traded up $0.56 on Tuesday, hitting $13.73. The stock had a trading volume of 259,734 shares, compared to its average volume of 184,788. The firm has a 50-day moving average of $14.28 and a 200-day moving average of $13.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 0.63. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. The company has a market capitalization of $761.38 million, a price-to-earnings ratio of -9.60 and a beta of 0.07.

TXO Partners (NYSE:TXO – Get Free Report) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). The firm had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. Equities analysts expect that TXO Partners LP will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a dividend of $0.44 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend is Friday, November 13th. TXO Partners’s dividend payout ratio is -111.89%.

Analysts Set New Price Targets

TXO has been the topic of a number of research analyst reports. Stifel Nicolaus assumed coverage on TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price 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. Stephens assumed 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. Wall Street Zen lowered shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Finally, Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 26th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $19.00.

Check Out Our Latest Research Report on TXO

Hedge Funds Weigh In On TXO Partners

A number of large investors have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners during the 2nd quarter valued at about $4,469,000. Energy Income Partners LLC increased 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 buying an additional 312,120 shares during the period. Sanders Morris Harris LLC bought a new position in shares of TXO Partners during the third quarter valued at approximately $4,305,000. Bank of America Corp DE raised its holdings 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. Finally, Hennessy Advisors Inc. bought a new position in shares of TXO Partners during the second quarter valued at approximately $488,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

(Get Free Report)

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company’s activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.

Further Reading

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

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