Key Points
- Director Bob Simpson bought 162,365 TXO Partners shares at $12.50 each, a transaction worth about $2.03 million. After the purchase, he owned 7 million shares, increasing his stake by 2.37%.
- TXO Partners recently raised its quarterly dividend to $0.36 per share from $0.30, which works out to an annualized yield of about 11.5%. The dividend is payable May 22 to shareholders of record on May 15.
- The company posted a weaker-than-expected quarterly loss, reporting EPS of -$1.35 versus a -$0.05 estimate and revenue of $28.28 million versus $110.71 million expected. Analysts currently rate the stock a consensus Moderate Buy with a $18.50 target price.
TXO Partners LP (NYSE:TXO - Get Free Report) Director William Adams III bought 10,000 shares of the stock in a transaction dated Friday, May 8th. The shares were acquired at an average price of $12.41 per share, for a total transaction of $124,100.00. Following the completion of the transaction, the director owned 128,951 shares of the company's stock, valued at approximately $1,600,281.91. The trade was a 8.41% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
TXO Partners Trading Up 1.7%
NYSE TXO opened at $12.52 on Tuesday. The firm has a market cap of $691.72 million, a PE ratio of -6.81 and a beta of 0.02. TXO Partners LP has a one year low of $10.12 and a one year high of $17.90. The firm's fifty day moving average is $12.44 and its two-hundred day moving average is $12.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43.
TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.30). The company had revenue of $28.28 million for the quarter, compared to analysts' expectations of $110.71 million. TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. Analysts expect that TXO Partners LP will post 0.41 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, May 22nd. Stockholders of record on Friday, May 15th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.5%. This is a positive change from TXO Partners's previous quarterly dividend of $0.30. The ex-dividend date is Friday, May 15th. TXO Partners's dividend payout ratio (DPR) is presently -65.22%.
Hedge Funds Weigh In On TXO Partners
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company's stock valued at $28,000 after purchasing an additional 1,303 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in shares of TXO Partners by 0.8% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 181,500 shares of the company's stock worth $2,550,000 after buying an additional 1,500 shares during the period. State of Wyoming bought a new position in shares of TXO Partners in the second quarter worth $45,000. Arlington Trust Co LLC bought a new position in TXO Partners in the 3rd quarter valued at about $56,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of TXO Partners during the fourth quarter valued at approximately $49,000. 27.44% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on TXO shares. Raymond James Financial reiterated a "strong-buy" rating on shares of TXO Partners in a report on Wednesday, April 29th. Weiss Ratings reissued a "sell (d+)" rating on shares of TXO Partners in a report on Friday, April 10th. Wall Street Zen downgraded shares of TXO Partners from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Stifel Nicolaus increased their target price on TXO Partners from $18.00 to $19.00 and gave the stock a "buy" rating in a research report on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, TXO Partners currently has a consensus rating of "Moderate Buy" and an average price target of $18.50.
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TXO Partners Company Profile
(
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TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.
The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.
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