TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Acquires 86,796 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 86,796 shares of the firm’s stock in a transaction on Tuesday, November 10th. The stock was acquired at an average price of $13.49 per share, for a total transaction of $1,170,878.04. Following the transaction, the director owned 9,732,839 shares of the company’s stock, valued at approximately $131,295,998.11. The trade was a 0.90% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

TXO Partners Stock Performance

Shares of NYSE TXO opened at $13.94 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.63 and a quick ratio of 0.63. TXO Partners LP has a 12 month low of $10.12 and a 12 month high of $15.58. The stock has a 50-day moving average price of $14.24 and a two-hundred day moving average price of $13.21.

TXO Partners (NYSE:TXO) last posted its quarterly 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). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The company had revenue of $55.09 million during the quarter, compared to analyst estimates of $102.05 million. As a group, equities research analysts expect that TXO Partners LP will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 12.6%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. TXO Partners’s dividend payout ratio is currently -111.89%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TXO. Stephens assumed coverage on TXO Partners in a report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price objective on the stock. Wall Street Zen lowered TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 7th. Weiss Ratings cut 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 target price for the company. Finally, Zacks Research upgraded 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 assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $19.00.

Institutional Investors Weigh In On TXO Partners

Several institutional investors and hedge funds have recently made changes to their positions in TXO. Allied Private Wealth LLC bought a new stake in TXO Partners in the second quarter worth approximately $30,000. Simplex Trading LLC bought a new position in shares of TXO Partners during the 3rd quarter worth approximately $67,000. Virtus Advisers LLC boosted its holdings in shares of TXO Partners by 93.6% during the 3rd quarter. Virtus Advisers LLC now owns 10,035 shares of the company’s stock worth $137,000 after buying an additional 4,851 shares in the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of TXO Partners by 5.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock worth $179,000 after buying an additional 716 shares in the last quarter. Finally, HighTower Advisors LLC grew its position in shares of TXO Partners by 41.2% during the 3rd quarter. HighTower Advisors LLC now owns 15,773 shares of the company’s stock worth $216,000 after buying an additional 4,603 shares during the period. Institutional investors own 27.44% of the company’s stock.

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.