Bob Simpson Buys 63,282 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 63,282 shares of TXO Partners stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average price of $12.64 per share, with a total value of $799,884.48. Following the purchase, the director directly owned 9,100,000 shares in the company, valued at $115,024,000. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

TXO Partners Stock Performance

TXO Partners stock traded down $0.29 during trading hours on Wednesday, hitting $12.42. 182,327 shares of the stock traded hands, compared to its average volume of 212,893. The firm’s 50 day moving average price is $12.78 and its 200-day moving average price is $12.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The stock has a market capitalization of $686.08 million, a price-to-earnings ratio of -6.75 and a beta of 0.06. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $15.55.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $110.71 million. As a group, equities analysts expect that TXO Partners LP will post 0.41 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 11.6%. This is a boost from TXO Partners’s previous quarterly dividend of $0.30. TXO Partners’s payout ratio is -78.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in shares of TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock worth $28,000 after acquiring an additional 1,303 shares during the period. State of Wyoming purchased a new position in shares of 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 worth about $49,000. Fund Advisors of America Inc FL acquired a new position in TXO Partners in the 4th quarter worth about $115,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its position in TXO Partners by 243.5% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,974 shares of the company’s stock worth $117,000 after purchasing an additional 7,779 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TXO shares. Stifel Nicolaus raised 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. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Raymond James Financial reiterated a “strong-buy” rating on shares of TXO Partners in a research note on Wednesday, April 29th. Finally, Wall Street Zen upgraded TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently 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.