TXO Partners (NYSE:TXO) Posts Quarterly Earnings Results, Misses Expectations By $0.80 EPS

TXO Partners (NYSE:TXO) posted its quarterly earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.80), FiscalAI reports. The firm had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $102.05 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.

TXO Partners Stock Performance

Shares of TXO stock traded down $0.01 during midday trading on Tuesday, hitting $13.60. 110,722 shares of the company were exchanged, compared to its average volume of 183,341. TXO Partners has a 52 week low of $10.12 and a 52 week high of $15.58. The firm has a market capitalization of $754.06 million, a P/E ratio of -17.66 and a beta of 0.08. The firm’s 50 day moving average price is $14.39 and its two-hundred day moving average price is $13.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05.

Insider Activity

In related news, Director Bob Simpson acquired 125,000 shares of the company’s stock in a transaction 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 acquisition, the director directly owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. The trade was a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have purchased 400,000 shares of company stock worth $5,638,250.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Stephens started coverage on shares of TXO Partners in a report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Zacks Research upgraded TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. 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 raised shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Stifel Nicolaus assumed coverage on shares of TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.00.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.