TXO Partners (NYSE:TXO) CEO Sells $337,156.92 in Stock

TXO Partners LP (NYSE:TXO) CEO Brent Clum sold 27,234 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $12.38, for a total transaction of $337,156.92. Following the completion of the sale, the chief executive officer owned 800,340 shares of the company’s stock, valued at approximately $9,908,209.20. The trade was a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Trading Down 0.0%

NYSE TXO opened at $12.52 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.42. TXO Partners LP has a 1-year low of $10.12 and a 1-year high of $18.91. The firm’s fifty day simple moving average is $12.48 and its 200-day simple moving average is $12.45. The company has a market capitalization of $691.37 million, a PE ratio of -29.10 and a beta of 0.04.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Thursday, February 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.67). TXO Partners had a negative net margin of 5.39% and a negative return on equity of 2.03%. The firm had revenue of $125.93 million for the quarter, compared to analyst estimates of $111.09 million. As a group, sell-side analysts anticipate that TXO Partners LP will post 1.02 earnings per share for the current fiscal year.

TXO Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Tuesday, March 10th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 9.6%. The ex-dividend date was Tuesday, March 10th. TXO Partners’s payout ratio is currently -279.07%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fund Advisors of America Inc FL bought a new position in shares of TXO Partners in the 4th quarter valued at approximately $115,000. Alpine Global Management LLC bought a new stake in TXO Partners during the fourth quarter worth approximately $182,000. Virtu Financial LLC acquired a new position in TXO Partners during the fourth quarter valued at approximately $291,000. XTX Topco Ltd acquired a new position in TXO Partners during the fourth quarter valued at approximately $389,000. Finally, Wealthedge Investment Advisors LLC raised its position in shares of TXO Partners by 12.2% in the fourth quarter. Wealthedge Investment Advisors LLC now owns 199,568 shares of the company’s stock valued at $2,129,000 after purchasing an additional 21,662 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

Analysts Set New Price Targets

TXO has been the topic of a number of research reports. Raymond James Financial set a $18.00 price objective on TXO Partners in a report on Tuesday, January 27th. Weiss Ratings downgraded shares of TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Stifel Nicolaus raised their price target on shares of TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, TXO Partners presently has a consensus rating of “Moderate Buy” and an average target price 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.