TXO Partners (NYSE:TXO) Stock Crosses Above 50 Day Moving Average – Time to Sell?

TXO Partners LP (NYSE:TXO) passed above its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $14.40 and traded as high as $14.64. TXO Partners shares last traded at $14.4450, with a volume of 84,636 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Stephens began coverage on shares of TXO Partners in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Stifel Nicolaus initiated 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. Finally, 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. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $19.00.

TXO Partners Price Performance

The stock has a 50 day simple moving average of $14.40 and a two-hundred day simple moving average of $13.08. The company has a market cap of $800.98 million, a price-to-earnings ratio of -18.76 and a beta of 0.08. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. On average, equities research analysts predict that TXO Partners LP will post 0.60 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 11.1%. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s dividend payout ratio is presently -207.79%.

Insider Buying and Selling at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was purchased 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 $136,040,000. This trade represents a 1.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Over the last 90 days, insiders have bought 400,000 shares of company stock worth $5,638,250.

Institutional Investors Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Energy Income Partners LLC boosted its holdings 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 purchasing an additional 312,120 shares during the last quarter. First Trust Advisors LP grew its stake in shares of TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after buying an additional 10,877 shares during the period. Bank of America Corp DE grew 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 valued at $4,715,000 after buying an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of TXO Partners during the 2nd quarter worth approximately $4,469,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of TXO Partners during the 3rd quarter worth approximately $4,305,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.