309,790 Shares of TXO Partners LP $TXO Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC acquired a new position in shares of TXO Partners LP (NYSE:TXO) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 309,790 shares of the company’s stock, valued at approximately $4,305,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in TXO Partners during the 2nd quarter worth approximately $488,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of TXO Partners in the second quarter valued at approximately $4,469,000. Allied Private Wealth LLC acquired a new stake in shares of TXO Partners in the second quarter valued at approximately $30,000. Glenmede Trust Co. NA lifted its position 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 worth $1,314,000 after purchasing an additional 26,000 shares in the last quarter. Finally, Bank of America Corp DE lifted its position 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 worth $4,715,000 after purchasing an additional 270,465 shares in the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

Insider Buying and Selling

In other news, Director Bob Simpson acquired 125,000 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was bought at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the transaction, the director directly owned 9,500,000 shares in the company, valued at approximately $136,040,000. The trade was a 1.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have acquired a total of 400,000 shares of company stock valued at $5,638,250 in the last ninety days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Wall Street Zen raised shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Stifel Nicolaus started coverage on shares of TXO Partners in a research note on Thursday, September 10th. They set a “buy” rating and a $17.00 price objective for the company. Weiss Ratings downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, October 8th. Finally, Stephens initiated coverage on TXO Partners in a report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $19.00.

TXO Partners Stock Down 2.3%

Shares of TXO Partners stock traded down $0.34 on Wednesday, reaching $14.23. 95,059 shares of the company were exchanged, compared to its average volume of 190,179. TXO Partners LP has a one year low of $10.12 and a one year high of $15.58. The company has a market capitalization of $789.33 million, a price-to-earnings ratio of -18.49 and a beta of 0.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average of $14.37 and a 200 day moving average of $13.35.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.96. The business had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. On average, equities research analysts forecast that TXO Partners LP will post 0.58 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a $0.40 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date was Friday, August 14th. TXO Partners’s dividend payout ratio is -207.79%.

TXO Partners Profile

TXO Partners, L.P. (NYSE:TXO) is an independent oil and natural gas company focused on acquiring, developing, and operating producing properties in the United States. The company emphasizes oil-weighted assets and seeks to generate production from mature properties through development, workovers, operational improvements, and enhanced recovery activities.

TXO Partners’ operations are concentrated in the Permian Basin, including producing assets in parts of Texas and New Mexico. Its portfolio includes conventional and unconventional oil and natural gas properties, with associated natural gas liquids and other hydrocarbons produced alongside crude oil and natural gas.

The company was formed as a publicly traded master limited partnership and began trading on the New York Stock Exchange in 2022.