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

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 78,932 shares of TXO Partners stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average cost of $13.15 per share, with a total value of $1,037,955.80. Following the acquisition, the director owned 9,646,043 shares of the company’s stock, valued at $126,845,465.45. The trade was a 0.83% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

TXO Partners Price Performance

NYSE TXO opened at $14.02 on Friday. The company has a fifty day moving average of $14.22 and a 200 day moving average of $13.22. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $15.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.63 and a current ratio of 0.63.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results 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 company had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million. TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. On average, research 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 announced 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 is Friday, November 13th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.6%. TXO Partners’s dividend payout ratio (DPR) is currently -111.89%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently modified their holdings of the business. Ieq Capital LLC purchased a new stake in TXO Partners in the 3rd quarter worth $241,000. HighTower Advisors LLC raised its position in TXO Partners by 41.2% during the third quarter. HighTower Advisors LLC now owns 15,773 shares of the company’s stock worth $216,000 after acquiring an additional 4,603 shares during the period. Virtus Advisers LLC lifted its holdings in TXO Partners by 93.6% during the third quarter. Virtus Advisers LLC now owns 10,035 shares of the company’s stock valued at $137,000 after purchasing an additional 4,851 shares in the last quarter. Simplex Trading LLC purchased a new position in TXO Partners during the third quarter valued at $67,000. Finally, Arrow Investment Advisors LLC grew its position in shares of TXO Partners by 14.0% in the third quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company’s stock valued at $264,000 after purchasing an additional 2,374 shares during the period. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analyst Weigh In

TXO has been the topic of several analyst reports. Weiss Ratings lowered TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Stifel Nicolaus assumed coverage on TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target for the company. Stephens started coverage on TXO Partners in a research report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective on the stock. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen lowered shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 7th. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $19.00.

About TXO Partners

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.