TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Purchases 86,796 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 86,796 shares of TXO Partners stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average cost of $13.49 per share, with a total value of $1,170,878.04. Following the completion of the acquisition, the director directly owned 9,732,839 shares of the company’s stock, valued at approximately $131,295,998.11. The trade was a 0.90% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

TXO Partners Stock Performance

Shares of TXO traded up $0.56 during mid-day trading on Tuesday, hitting $13.73. 259,734 shares of the company’s stock were exchanged, compared to its average volume of 184,788. TXO Partners LP has a fifty-two week low of $10.12 and a fifty-two week high of $15.58. The firm has a market capitalization of $761.38 million, a P/E ratio of -9.60 and a beta of 0.07. The business’s 50 day moving average is $14.28 and its two-hundred day moving average is $13.18. 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 issued its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.79). The company had revenue of $55.09 million during the quarter, compared to analyst estimates of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. On average, equities analysts expect that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be issued a $0.44 dividend. 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. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.8%. TXO Partners’s dividend payout ratio is presently -111.89%.

Institutional Trading of TXO Partners

Hedge funds have recently modified their holdings of the business. Energy Income Partners LLC grew its holdings in TXO Partners by 27.5% during the first 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 period. First Trust Advisors LP lifted its holdings in TXO Partners by 2.1% in the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares during the period. Bank of America Corp DE boosted its position in shares of TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after purchasing an additional 270,465 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners during the 2nd quarter worth $4,469,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of TXO Partners during the 3rd quarter worth $4,305,000. 27.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TXO. Stifel Nicolaus began coverage on TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 price target for the company. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Wall Street Zen cut shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday. Stephens assumed coverage on shares of TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price objective for the company. Finally, Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Two research 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 an average target price of $19.00.

TXO Partners Company Profile

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company’s activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.