TXO Partners (NYSE:TXO) Shares Gap Down – What’s Next?

Shares of TXO Partners, L.P. (NYSE:TXO) gapped down prior to trading on Wednesday . The stock had previously closed at $17.68, but opened at $15.00. TXO Partners shares last traded at $15.14, with a volume of 1,390,701 shares changing hands.

Analyst Ratings Changes

Separately, Stifel Nicolaus assumed coverage on shares of TXO Partners in a report on Wednesday, April 23rd. They issued a “buy” rating and a $20.00 target price on the stock.

TXO Partners Trading Up 0.7%

The business’s 50 day moving average price is $17.71 and its two-hundred day moving average price is $18.02. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $637.07 million, a price-to-earnings ratio of -2.59 and a beta of 0.17.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The company had revenue of $84.33 million during the quarter, compared to analyst estimates of $82.00 million. On average, equities analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Stockholders of record on Friday, May 16th will be given a $0.61 dividend. The ex-dividend date is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a dividend yield of 15.84%. TXO Partners’s dividend payout ratio (DPR) is currently 580.95%.

Insider Transactions at TXO Partners

In other TXO Partners news, CEO Gary D. Simpson sold 31,517 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total transaction of $601,344.36. Following the completion of the sale, the chief executive officer now owns 408,053 shares in the company, valued at approximately $7,785,651.24. The trade was a 7.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Phillip R. Kevil acquired 3,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The shares were purchased at an average cost of $15.18 per share, for a total transaction of $45,540.00. Following the completion of the acquisition, the director now directly owns 27,384 shares in the company, valued at approximately $415,689.12. The trade was a 12.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 2,973,000 shares of company stock worth $44,595,540.

Institutional Investors Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Merit Financial Group LLC bought a new position in shares of TXO Partners in the fourth quarter worth $505,000. M&T Bank Corp bought a new stake in TXO Partners during the fourth quarter valued at $253,000. Childress Capital Advisors LLC purchased a new position in TXO Partners during the fourth quarter worth about $423,000. Boston Partners bought a new position in TXO Partners in the 4th quarter worth about $375,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of TXO Partners in the 4th quarter valued at about $4,609,000. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.