Key Points
- Director Bob Simpson bought 67,111 TXO Partners shares at an average price of $12.97, spending about $870,430 and increasing his stake to 9,567,111 shares.
- TXO reported a quarterly loss of $0.58 per share, missing the $0.21 consensus estimate; revenue of $55.09 million also fell short of the $102.05 million forecast.
- The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to an annualized $1.76 and a stated yield of 12.8%.
TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson purchased 67,111 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was purchased at an average cost of $12.97 per share, with a total value of $870,429.67. Following the purchase, the director owned 9,567,111 shares in the company, valued at $124,085,429.67. This represents a 0.71% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
TXO Partners Trading Up 4.3%
NYSE:TXO opened at $13.73 on Wednesday. The stock's 50 day moving average price is $14.26 and its 200 day moving average price 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 market capitalization of $761.33 million, a P/E ratio of -9.60 and a beta of 0.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.63 and a current ratio of 0.63.
TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.79). The business had revenue of $55.09 million for the quarter, compared to the consensus estimate 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, research analysts forecast that TXO Partners LP will post 0.65 EPS for the current fiscal year.
TXO Partners Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders 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. The ex-dividend date is Friday, November 13th. This represents a $1.76 annualized dividend and a dividend yield of 12.8%. TXO Partners's dividend payout ratio (DPR) is currently -123.08%.
Institutional Trading of TXO Partners
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Apollon Wealth Management LLC increased its position in TXO Partners by 5.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company's stock worth $179,000 after buying an additional 716 shares during the period. CWA Asset Management Group LLC lifted its holdings in shares of TXO Partners by 7.5% during the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company's stock worth $250,000 after buying an additional 1,272 shares during the last quarter. Allied Private Wealth LLC acquired a new position in shares of TXO Partners during the second quarter worth approximately $30,000. Arrow Investment Advisors LLC boosted its position in shares of TXO Partners by 14.0% in the third quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company's stock valued at $264,000 after acquiring an additional 2,374 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of TXO Partners by 41.2% in the third quarter. HighTower Advisors LLC now owns 15,773 shares of the company's stock valued at $216,000 after acquiring an additional 4,603 shares during the period. Institutional investors and hedge funds own 27.44% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the stock. Zacks Research upgraded shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Stifel Nicolaus started coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a "buy" rating and a $17.00 price objective for the company. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, October 26th. Wall Street Zen downgraded shares of TXO Partners from a "strong-buy" rating to a "hold" rating in a research report on Saturday. Finally, 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 target price on the stock. Two investment analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $19.00.
Read Our Latest Stock Analysis on TXO Partners
TXO Partners Company Profile
(
Get Free Report)
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.
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