TXO Partners (NYSE:TXO) Stock Bumped Down to “Hold” by Wall Street Zen

Wall Street Zen lowered shares of TXO Partners (NYSE:TXO) from a strong-buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.

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

TXO Partners Stock Performance

NYSE TXO opened at $13.14 on Friday. The stock has a market capitalization of $728.67 million, a price-to-earnings ratio of -9.19 and a beta of 0.07. The business’s 50 day moving average is $14.30 and its two-hundred day moving average is $13.17. TXO Partners has a 12-month low of $10.12 and a 12-month high of $15.58. The company has a current ratio of 0.63, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.79). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The business had revenue of $55.09 million during the quarter, compared to analyst estimates of $102.05 million. Research analysts expect that TXO Partners will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 13.4%. The ex-dividend date of this dividend is Friday, November 13th. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. TXO Partners’s dividend payout ratio (DPR) is -123.08%.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson bought 125,000 shares of the stock in a transaction on Thursday, August 13th. The shares were bought at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the completion of the acquisition, the director owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. This trade represents a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders acquired 300,000 shares of company stock worth $4,286,250 over the last ninety days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in TXO. Energy Income Partners LLC grew its stake in TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares during the last quarter. First Trust Advisors LP raised its position in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after acquiring an additional 10,877 shares during the last quarter. Bank of America Corp DE raised its position in TXO Partners by 259.3% during the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after acquiring an additional 270,465 shares during the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners in the second quarter valued at about $4,469,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of TXO Partners in the third quarter valued at about $4,305,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.