TXO Partners (NYSE:TXO) Stock Gets Downgrade from Wall Street Zen

TXO Partners (NYSE:TXO) was downgraded by Wall Street Zen from a “strong-buy” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other analysts have also recently commented on TXO. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 26th. Stifel Nicolaus started coverage on shares of TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Stephens began coverage on shares of TXO Partners in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given 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 Price Performance

NYSE TXO opened at $13.14 on Friday. The company has a market cap of $728.72 million, a PE ratio of -9.19 and a beta of 0.07. TXO Partners has a 52 week low of $10.12 and a 52 week high of $15.58. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The firm’s 50-day simple moving average is $14.30 and its two-hundred day simple moving average is $13.17.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). The business had revenue of $55.09 million for 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 will post 0.65 earnings per share for the current year.

Insider Transactions at TXO Partners

In related news, Director Bob Simpson acquired 125,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the acquisition, the director owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. This trade represents a 1.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders bought 250,000 shares of company stock worth $3,577,750.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TXO. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners in the second quarter worth about $4,469,000. Energy Income Partners LLC boosted its position in shares of TXO Partners by 27.5% in the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares during the period. Sanders Morris Harris LLC purchased a new position in TXO Partners during the third quarter valued at approximately $4,305,000. Bank of America Corp DE grew its stake in TXO Partners by 259.3% during the first 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. Finally, Hennessy Advisors Inc. purchased a new position in TXO Partners during the second quarter valued at approximately $488,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.