TXO Partners LP (NYSE:TXO) Sees Significant Decline in Short Interest

TXO Partners LP (NYSE:TXO) was the recipient of a large decline in short interest during the month of October. As of October 15th, there was short interest totaling 418,689 shares, a decline of 44.5% from the September 30th total of 754,887 shares. Based on an average daily volume of 105,670 shares, the days-to-cover ratio is presently 4.0 days. Approximately 0.8% of the shares of the stock are short sold.

Insider Buying and Selling at TXO Partners

In other TXO Partners news, Director Bob Simpson bought 125,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the purchase, the director owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 400,000 shares of company stock valued at $5,638,250 in the last three months.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allied Private Wealth LLC bought a new stake in shares of TXO Partners in the second quarter valued at approximately $30,000. Apollon Wealth Management LLC lifted its position in shares of TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock worth $179,000 after acquiring an additional 716 shares in the last quarter. Chicago Partners Investment Group LLC purchased a new stake in shares of TXO Partners during the third quarter worth $217,000. CWA Asset Management Group LLC boosted its holdings in shares of TXO Partners by 7.5% in the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after acquiring an additional 1,272 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in shares of TXO Partners in the second quarter valued at $488,000. Institutional investors own 27.44% of the company’s stock.

Analyst Ratings Changes

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

TXO Partners Stock Performance

Shares of TXO Partners stock traded down $0.07 during trading hours on Friday, hitting $14.05. 135,099 shares of the company’s stock traded hands, compared to its average volume of 91,226. The stock has a market capitalization of $779.35 million, a price-to-earnings ratio of -18.25 and a beta of 0.08. TXO Partners has a 12-month low of $10.12 and a 12-month high of $15.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. The company has a fifty day simple moving average of $14.40 and a 200-day simple moving average of $13.11.

TXO Partners (NYSE:TXO) last posted its quarterly 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 company had revenue of $150.87 million during the quarter, compared to analyst estimates of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. Equities research analysts anticipate that TXO Partners will post 0.60 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were issued a $0.40 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.60 annualized dividend and a yield of 11.4%. TXO Partners’s payout ratio is -207.79%.

About TXO Partners

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.