Key Points
- TXO Partners director Bob Simpson bought 63,282 shares on June 23 at an average price of $12.64, spending about $799,884. The purchase increased his ownership by 0.70% to 9.1 million shares.
- The stock has struggled financially, with the company recently reporting a quarterly loss of $1.35 per share and revenue of $28.28 million, both well below analyst expectations.
- TXO recently raised its quarterly dividend to $0.36 per share from $0.30, implying an annualized yield of 11.6%, while analysts currently view the stock as a Moderate Buy with a $18.50 price target.
TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson bought 36,718 shares of the firm's stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $12.55 per share, with a total value of $460,810.90. Following the transaction, the director directly owned 9,036,718 shares of the company's stock, valued at approximately $113,410,810.90. This trade represents a 0.41% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
TXO Partners Trading Down 2.3%
Shares of TXO stock opened at $12.42 on Thursday. TXO Partners LP has a 12 month low of $10.12 and a 12 month high of $15.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.46. The business's 50 day moving average is $12.78 and its two-hundred day moving average is $12.20. The company has a market cap of $686.08 million, a PE ratio of -6.75 and a beta of 0.06.
TXO Partners (NYSE:TXO - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($1.30). TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. The firm had revenue of $28.28 million during the quarter, compared to the consensus estimate of $110.71 million. Equities analysts predict that TXO Partners LP will post 0.41 EPS for the current year.
TXO Partners Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 15th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 11.6%. The ex-dividend date was Friday, May 15th. This is a boost from TXO Partners's previous quarterly dividend of $0.30. TXO Partners's dividend payout ratio (DPR) is -78.26%.
Hedge Funds Weigh In On TXO Partners
Large investors have recently bought and sold shares of the stock. Global Endowment Management LP boosted its holdings in TXO Partners by 54.9% in the 3rd quarter. Global Endowment Management LP now owns 2,686,017 shares of the company's stock valued at $37,739,000 after purchasing an additional 952,257 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of TXO Partners during the 3rd quarter worth about $25,402,000. ING Groep NV increased its holdings in shares of TXO Partners by 24.8% during the 4th quarter. ING Groep NV now owns 504,000 shares of the company's stock worth $5,378,000 after purchasing an additional 100,000 shares during the period. Wealthedge Investment Advisors LLC raised its position in shares of TXO Partners by 100.1% during the third quarter. Wealthedge Investment Advisors LLC now owns 177,906 shares of the company's stock valued at $2,500,000 after buying an additional 88,992 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in shares of TXO Partners by 3.0% during the third quarter. CIBC Private Wealth Group LLC now owns 1,807,967 shares of the company's stock valued at $25,402,000 after buying an additional 52,903 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have weighed in on TXO. Raymond James Financial reissued a "strong-buy" rating on shares of TXO Partners in a research report on Wednesday, April 29th. Weiss Ratings lowered TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a research note on Tuesday, May 12th. Stifel Nicolaus increased their target price on TXO Partners from $18.00 to $19.00 and gave the company a "buy" rating in a research note on Friday, March 6th. Finally, Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, June 13th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $18.50.
Check Out Our Latest 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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