Key Points
- Director Bob Simpson bought 34,408 TXO Partners shares on May 26 at an average price of $13.27, bringing his total holdings to 8,334,408 shares. The transaction was worth about $456,594 and was disclosed in an SEC filing.
- TXO Partners recently raised its quarterly dividend to $0.36 per share from $0.30, or $1.44 annualized, for a yield of about 10.8%. However, the company’s payout ratio is still negative due to ongoing losses.
- Recent results were weak, as TXO reported a quarterly EPS loss of $1.35 versus expectations for a much smaller loss and revenue far below estimates. Analysts currently have a consensus rating of Moderate Buy with an average price target of $18.50.
TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson purchased 34,408 shares of the firm's stock in a transaction on Tuesday, May 26th. The shares were acquired at an average price of $13.27 per share, with a total value of $456,594.16. Following the purchase, the director directly owned 8,334,408 shares in the company, valued at $110,597,594.16. This represents a 0.41% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
TXO Partners Stock Performance
Shares of TXO stock opened at $13.30 on Wednesday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $734.73 million, a PE ratio of -7.23 and a beta of 0.02. The firm has a fifty day simple moving average of $12.62 and a two-hundred day simple moving average of $12.19. TXO Partners LP has a 12 month low of $10.12 and a 12 month high of $16.26.
TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings data on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($1.30). The firm had revenue of $28.28 million for the quarter, compared to analysts' expectations of $110.71 million. TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%. Analysts forecast that TXO Partners LP will post 0.41 EPS for the current fiscal year.
TXO Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.44 dividend on an annualized basis and a yield of 10.8%. This is a positive change from TXO Partners's previous quarterly dividend of $0.30. TXO Partners's payout ratio is presently -78.26%.
Institutional Investors Weigh In On TXO Partners
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXO. Hsbc Holdings PLC bought a new stake in TXO Partners in the 2nd quarter valued at about $380,000. M&T Bank Corp raised its stake in TXO Partners by 33.3% in the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company's stock valued at $301,000 after acquiring an additional 5,000 shares during the period. First Trust Advisors LP bought a new stake in TXO Partners in the 2nd quarter valued at about $5,830,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of TXO Partners by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company's stock valued at $10,767,000 after buying an additional 35,990 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in shares of TXO Partners by 39.1% in the second quarter. Raymond James Financial Inc. now owns 304,980 shares of the company's stock worth $4,587,000 after buying an additional 85,684 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the stock. Weiss Ratings downgraded shares of TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday, May 12th. Stifel Nicolaus boosted their price target on shares of TXO Partners from $18.00 to $19.00 and gave the stock a "buy" rating in a report on Friday, March 6th. Wall Street Zen downgraded shares of TXO Partners from a "hold" rating to a "sell" rating in a report on Saturday, May 9th. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of TXO Partners in a report on Wednesday, April 29th. One 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 stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $18.50.
View Our Latest Research Report on TXO Partners
About TXO Partners
(
Get Free Report)
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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