TXO Partners LP (NYSE:TXO) Receives Consensus Rating of “Buy” from Brokerages

Shares of TXO Partners LP (NYSE:TXO) have been given a consensus recommendation of “Buy” by the five research firms that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.50.

Several brokerages have recently weighed in on TXO. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Weiss Ratings upgraded shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Wall Street Zen upgraded TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Stephens assumed coverage on TXO Partners in a report on Wednesday. They issued an “overweight” rating for the company. Finally, Stifel Nicolaus started coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective for the company.

Insiders Place Their Bets

In other TXO Partners news, Director Bob Simpson purchased 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, for a total transaction of $1,790,000.00. Following the completion of the transaction, the director owned 9,500,000 shares of the company’s stock, 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 link. Over the last ninety days, insiders bought 400,000 shares of company stock valued at $5,638,250.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. acquired a new position in TXO Partners during the second quarter worth $4,469,000. Energy Income Partners LLC increased its stake in shares of TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after acquiring an additional 312,120 shares during the last quarter. Bank of America Corp DE increased its stake in shares of TXO Partners by 259.3% in the 1st 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. ING Groep NV raised its holdings in shares of TXO Partners by 24.8% during the 4th quarter. ING Groep NV now owns 504,000 shares of the company’s stock worth $5,378,000 after acquiring an additional 100,000 shares during the period. Finally, Hennessy Advisors Inc. purchased a new position in shares of TXO Partners during the 2nd quarter worth $488,000. 27.44% of the stock is owned by institutional investors and hedge funds.

TXO Partners Stock Down 0.5%

NYSE TXO traded down $0.07 on Wednesday, reaching $13.89. 77,415 shares of the stock traded hands, compared to its average volume of 192,161. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The company has a fifty day moving average price of $14.26 and a 200-day moving average price of $13.29. The company has a market cap of $770.20 million, a price-to-earnings ratio of -18.04 and a beta of 0.08. TXO Partners has a 12 month low of $10.12 and a 12 month high of $15.58.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The business had revenue of $150.87 million for the quarter, compared to the consensus estimate of $116.24 million. As a group, research analysts forecast that TXO Partners will post 0.58 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a $0.40 dividend. The ex-dividend date was Friday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 11.5%. This is a boost from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s dividend payout ratio (DPR) is presently -207.79%.

About TXO Partners

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.