TXO Partners (NYSE:TXO) Director Bob Simpson Buys 67,111 Shares of Company Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 67,111 shares of TXO Partners stock in a transaction that occurred on Friday, November 6th. The stock was bought at an average cost of $12.97 per share, with a total value of $870,429.67. Following the acquisition, the director directly owned 9,567,111 shares of the company’s stock, valued at approximately $124,085,429.67. This trade represents a 0.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Stock Performance

Shares of TXO opened at $13.73 on Wednesday. The firm has a 50-day moving average price of $14.26 and a 200 day moving average price of $13.20. The firm has a market capitalization of $761.33 million, a PE ratio of -9.60 and a beta of 0.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.79). The company had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. On average, sell-side analysts anticipate that TXO Partners LP will post 0.65 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.8%. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. TXO Partners’s dividend payout ratio (DPR) is currently -123.08%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently bought and sold shares of TXO. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners during the second quarter valued at approximately $4,469,000. Energy Income Partners LLC boosted its position in 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 purchasing an additional 312,120 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in TXO Partners during the third quarter valued at $4,305,000. Bank of America Corp DE grew its stake in 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 purchasing an additional 270,465 shares in the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in TXO Partners in the second quarter valued at about $488,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

TXO has been the topic of a number of research analyst reports. Stephens assumed coverage on shares of TXO Partners in a research note on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price objective on the stock. Stifel Nicolaus began coverage on TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective for the company. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Wall Street Zen lowered TXO Partners from a “strong-buy” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $19.00.

TXO Partners Company Profile

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.