Insider Buying: TXO Partners (NYSE:TXO) Director Purchases $3,095,658.27 in Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 230,847 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $13.41 per share, with a total value of $3,095,658.27. Following the purchase, the director directly owned 8,630,847 shares of the company’s stock, valued at approximately $115,739,658.27. This represents a 2.75% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

TXO Partners Stock Down 2.6%

TXO stock opened at $13.42 on Friday. The stock has a market capitalization of $741.04 million, a P/E ratio of -7.29 and a beta of 0.06. The firm has a 50-day simple moving average of $12.71 and a 200-day simple moving average of $12.18. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.46. TXO Partners LP has a 52 week low of $10.12 and a 52 week high of $16.26.

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

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were paid a dividend of $0.36 per share. This is an increase 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 10.7%. The ex-dividend date of this dividend was Friday, May 15th. TXO Partners’s dividend payout ratio is presently -78.26%.

Analysts Set New Price Targets

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

Institutional Trading of TXO Partners

Several large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in TXO Partners by 100.2% during the 4th quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock valued at $28,000 after acquiring an additional 1,303 shares in the last quarter. State of Wyoming acquired a new position in TXO Partners in the 2nd quarter valued at about $45,000. Kestra Advisory Services LLC acquired a new position in TXO Partners in the 4th quarter valued at about $49,000. M&T Bank Corp boosted its holdings in TXO Partners by 33.3% in the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock valued at $301,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in TXO Partners by 2.0% in the 3rd quarter. Raymond James Financial Inc. now owns 311,151 shares of the company’s stock valued at $4,372,000 after purchasing an additional 6,171 shares during the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

About TXO Partners

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.