TXO Partners (NYSE:TXO) Director Bob Simpson Acquires 78,932 Shares of Company Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 78,932 shares of TXO Partners stock in a transaction on Monday, November 9th. The stock was bought at an average cost of $13.15 per share, with a total value of $1,037,955.80. Following the completion of the acquisition, the director owned 9,646,043 shares in the company, valued at approximately $126,845,465.45. This trade represents a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

TXO Partners Stock Performance

NYSE:TXO opened at $13.73 on Wednesday. The firm’s 50-day moving average is $14.26 and its 200-day moving average is $13.20. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.63 and a current ratio of 0.63. The company has a market cap of $761.33 million, a price-to-earnings ratio of -9.60 and a beta of 0.07.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million. Equities research analysts anticipate that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a dividend of $0.44 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 12.8%. The ex-dividend date is Friday, November 13th. TXO Partners’s dividend payout ratio is presently -123.08%.

Analyst Ratings Changes

TXO has been the subject of several recent research reports. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday, October 26th. Stephens assumed coverage on TXO Partners in a report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price objective on the stock. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Stifel Nicolaus initiated coverage on TXO Partners in a research report on Thursday, September 10th. They set a “buy” rating and a $17.00 price objective on the stock. Finally, Wall Street Zen cut TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Two analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, TXO Partners has a consensus rating of “Buy” and a consensus price target of $19.00.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds have recently made changes to their positions in the business. Sanders Morris Harris LLC bought a new position in shares of TXO Partners during the 3rd quarter worth about $4,305,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of TXO Partners during the 2nd quarter valued at about $4,469,000. Hennessy Advisors Inc. acquired a new stake in shares of TXO Partners during the 2nd quarter valued at about $488,000. Energy Income Partners LLC boosted its position in shares of TXO Partners by 27.5% during 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 in the last quarter. Finally, Bank of America Corp DE increased its stake in TXO Partners by 259.3% in the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after acquiring an additional 270,465 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

About TXO Partners

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.