TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Purchases 67,111 Shares

TXO Partners LP (NYSE:TXO – Get Free Report) Director Bob Simpson purchased 67,111 shares of the business’s stock in a transaction on Friday, November 6th. The shares were purchased at an average cost of $12.97 per share, for a total transaction of $870,429.67. Following the transaction, the director directly owned 9,567,111 shares of the company’s stock, valued at approximately $124,085,429.67. The trade was a 0.71% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

TXO Partners Trading Up 4.3%

TXO Partners stock traded up $0.56 during trading hours on Tuesday, reaching $13.73. 259,734 shares of the company’s stock were exchanged, compared to its average volume of 184,788. The company has a quick ratio of 1.05, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $14.28 and its 200 day simple moving average is $13.18. TXO Partners LP has a twelve month low of $10.12 and a twelve month high of $15.58. The firm has a market capitalization of $761.38 million, a PE ratio of -9.60 and a beta of 0.07.

TXO Partners (NYSE:TXO – Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.79). The business had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. Research analysts predict that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently announced 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 an increase 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 payout ratio is -111.89%.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds have recently added to or reduced their stakes in TXO. Allied Private Wealth LLC acquired a new stake in TXO Partners in the second quarter valued at approximately $30,000. Simplex Trading LLC acquired a new position in shares of TXO Partners during the third quarter worth approximately $67,000. Virtus Advisers LLC raised its position in shares of TXO Partners by 93.6% during the third quarter. Virtus Advisers LLC now owns 10,035 shares of the company’s stock worth $137,000 after purchasing an additional 4,851 shares during the period. Apollon Wealth Management LLC raised its position in shares of TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock worth $179,000 after purchasing an additional 716 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in shares of TXO Partners in the 3rd quarter worth $217,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TXO. Stephens began coverage on TXO Partners in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of TXO Partners in a research report on Thursday, September 10th. They set a “buy” rating and a $17.00 price objective for the company. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded 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 research note on Monday, October 26th. Two investment 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 presently has an average rating of “Buy” and an average target price of $19.00.

Get Our Latest Report on TXO Partners

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.

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