Bob Simpson Buys 65,592 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 65,592 shares of TXO Partners stock in a transaction on Wednesday, May 27th. The shares were bought at an average price of $13.20 per share, with a total value of $865,814.40. Following the completion of the transaction, the director directly owned 8,400,000 shares of the company’s stock, valued at $110,880,000. This trade represents a 0.79% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

TXO Partners Price Performance

NYSE:TXO traded down $0.47 during trading hours on Wednesday, reaching $12.84. 215,810 shares of the company were exchanged, compared to its average volume of 214,291. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average is $12.62 and its 200-day moving average is $12.19. The firm has a market cap of $709.04 million, a PE ratio of -6.98 and a beta of 0.02. TXO Partners LP has a twelve month low of $10.12 and a twelve month high of $16.26.

TXO Partners (NYSE:TXO) last released its earnings results on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%.The business had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $110.71 million. On average, sell-side analysts anticipate that TXO Partners LP will post 0.41 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.2%. TXO Partners’s payout ratio is currently -78.26%.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds have recently modified their holdings of the company. Glenmede Trust Co. NA grew its holdings in shares of TXO Partners by 33.1% in the first quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company’s stock valued at $1,314,000 after purchasing an additional 26,000 shares during the period. Bank of America Corp DE grew its holdings in shares of TXO Partners by 259.3% in the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after purchasing an additional 270,465 shares during the period. Energy Income Partners LLC grew its holdings 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 purchasing an additional 312,120 shares during the period. First Trust Advisors LP grew its holdings in shares of TXO Partners by 2.1% in the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after purchasing an additional 10,877 shares during the period. Finally, Fund Advisors of America Inc FL purchased a new stake in shares of TXO Partners in the fourth quarter valued at about $115,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on TXO shares. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, May 12th. Stifel Nicolaus upped their target price on shares of TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Wall Street Zen lowered shares of TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating on shares of TXO Partners in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $18.50.

TXO Partners Company Profile

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.