TXO Partners LP (NYSE:TXO) Stock Has Consensus Price Target of $19.00

Shares of TXO Partners LP (NYSE:TXO) have been given a consensus recommendation of “Buy” by the five analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.00.

Several equities analysts have commented on TXO shares. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Stifel Nicolaus assumed coverage on shares of TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target for the company. Weiss Ratings upgraded shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 26th. Stephens initiated coverage on shares of TXO Partners in a report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Finally, Wall Street Zen upgraded shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson purchased 125,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the purchase, the director owned 9,500,000 shares in the company, valued at $136,040,000. This trade represents a 1.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders acquired 400,000 shares of company stock worth $5,638,250.

Institutional Trading of TXO Partners

A number of hedge funds and other institutional investors have recently modified their holdings of TXO. Chicago Partners Investment Group LLC acquired a new stake in shares of TXO Partners in the third quarter valued at $217,000. Deroy & Devereaux Private Investment Counsel Inc. boosted its stake in TXO Partners by 6.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company’s stock valued at $3,609,000 after buying an additional 17,000 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after buying an additional 716 shares in the last quarter. CWA Asset Management Group LLC boosted its stake in TXO Partners by 7.5% during the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock valued at $250,000 after buying an additional 1,272 shares in the last quarter. Finally, Sanders Morris Harris LLC acquired a new position in TXO Partners during the third quarter worth about $4,305,000. Institutional investors own 27.44% of the company’s stock.

TXO Partners Price Performance

Shares of NYSE TXO opened at $14.05 on Friday. TXO Partners has a fifty-two week low of $10.12 and a fifty-two week high of $15.58. The firm’s 50-day simple moving average is $14.40 and its 200 day simple moving average is $13.11. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock has a market cap of $779.35 million, a P/E ratio of -18.25 and a beta of 0.08.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.96. The business had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. Equities analysts expect that TXO Partners will post 0.60 EPS for the current year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.4%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. TXO Partners’s payout ratio is currently -207.79%.

TXO Partners Company Profile

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.