TXO Partners (NYSE:TXO) Coverage Initiated by Analysts at Stephens

Stephens initiated coverage on shares of TXO Partners (NYSE:TXO) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating on the stock.

Several other brokerages also recently issued reports on TXO. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, August 21st. Stifel Nicolaus began coverage on shares of TXO Partners in a research note on Thursday, September 10th. They set a “buy” rating and a $17.00 price target on the stock. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen upgraded TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Three investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, TXO Partners has a consensus rating of “Buy” and a consensus target price of $19.00.

TXO Partners Stock Up 3.0%

Shares of NYSE TXO opened at $14.35 on Wednesday. The stock has a fifty day moving average price of $14.30 and a 200 day moving average price of $13.31. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners has a 12-month low of $10.12 and a 12-month high of $15.58. The company has a market cap of $795.59 million, a P/E ratio of -18.64 and a beta of 0.08.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The company had revenue of $150.87 million for the quarter, compared to analysts’ expectations of $116.24 million. Research analysts anticipate that TXO Partners will post 0.58 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Bob Simpson acquired 125,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the completion of the acquisition, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders bought 400,000 shares of company stock valued at $5,638,250 in the last three months.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Energy Income Partners LLC grew its position in shares of TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after acquiring an additional 312,120 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares during the last quarter. Bank of America Corp DE raised its position in shares of TXO Partners by 259.3% during the 1st 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. Pin Oak Investment Advisors Inc. bought a new position in TXO Partners during the second quarter worth $4,469,000. Finally, Glenmede Trust Co. NA lifted its stake in TXO Partners by 33.1% during the first quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company’s stock worth $1,314,000 after purchasing an additional 26,000 shares during the last quarter. Institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

TXO Partners, L.P. (NYSE:TXO) is an independent oil and natural gas company focused on acquiring, developing, and operating producing properties in the United States. The company emphasizes oil-weighted assets and seeks to generate production from mature properties through development, workovers, operational improvements, and enhanced recovery activities.

TXO Partners’ operations are concentrated in the Permian Basin, including producing assets in parts of Texas and New Mexico. Its portfolio includes conventional and unconventional oil and natural gas properties, with associated natural gas liquids and other hydrocarbons produced alongside crude oil and natural gas.

The company was formed as a publicly traded master limited partnership and began trading on the New York Stock Exchange in 2022.