TXO Partners LP (NYSE:TXO – Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $15.19 and last traded at $15.17, with a volume of 292142 shares trading hands. The stock had previously closed at $14.48.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Wall Street Zen upgraded TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research raised TXO Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.50.
View Our Latest Stock Report on TXO
TXO Partners Stock Up 0.9%
TXO Partners (NYSE:TXO – Get Free Report) last issued its 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 net margin of 9.23% and a negative return on equity of 5.59%. On average, analysts predict that TXO Partners LP will post 0.58 earnings per share for the current year.
TXO Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a $0.40 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 10.7%. The ex-dividend date was Friday, August 14th. TXO Partners’s dividend payout ratio (DPR) is presently -207.79%.
Insider Buying and Selling at TXO Partners
In related news, Director Bob Simpson bought 125,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $14.32 per share, with a total value of $1,790,000.00. Following 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 acquisition was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders bought 500,000 shares of company stock valued at $6,898,945.
Hedge Funds Weigh In On TXO Partners
A number of large investors have recently bought and sold shares of the stock. Hsbc Holdings PLC bought a new stake in TXO Partners in the second quarter valued at approximately $380,000. M&T Bank Corp grew its holdings in shares of TXO Partners by 33.3% in the second quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock worth $301,000 after purchasing an additional 5,000 shares during the last quarter. First Trust Advisors LP bought a new position in shares of TXO Partners in the second quarter worth approximately $5,830,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of TXO Partners by 5.3% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after buying an additional 35,990 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in TXO Partners by 39.1% during the 2nd quarter. Raymond James Financial Inc. now owns 304,980 shares of the company’s stock valued at $4,587,000 after buying an additional 85,684 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.
About TXO Partners
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.
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