Key Points
- Director Bob Simpson bought 33,591 TXO shares at an average price of $13.87, spending about $465,907. His holdings rose 0.35% to 9.77 million 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 expectations.
- The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to an annualized yield of 13.2% at the price cited in the article.
TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson acquired 33,591 shares of TXO Partners stock in a transaction that occurred on Wednesday, November 11th. The shares were purchased at an average price of $13.87 per share, with a total value of $465,907.17. Following the transaction, the director owned 9,766,430 shares of the company's stock, valued at $135,460,384.10. The trade was a 0.35% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
TXO Partners Stock Performance
TXO stock traded down $0.66 during midday trading on Friday, reaching $13.35. 359,994 shares of the company's stock traded hands, compared to its average volume of 147,617. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.45. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. The stock has a market cap of $739.98 million, a P/E ratio of -9.33 and a beta of 0.07. The stock's 50-day moving average is $14.19 and its 200 day moving average is $13.23.
TXO Partners (NYSE:TXO - Get Free Report) last released its earnings results 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 company had revenue of $55.09 million for the quarter, compared to analysts' expectations of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. As a group, analysts anticipate that TXO Partners LP will post 0.65 EPS for the current year.
TXO Partners Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date is Friday, November 13th. This is a positive change from TXO Partners's previous quarterly dividend of $0.40. TXO Partners's dividend payout ratio (DPR) is -123.08%.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Zacks Research upgraded TXO Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. Stephens assumed coverage on TXO Partners in a research note on Wednesday, October 7th. They set an "overweight" rating and a $22.00 target price on the stock. Wall Street Zen cut TXO Partners from a "strong-buy" rating to a "hold" rating in a report on Saturday, November 7th. Weiss Ratings cut TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. Finally, Stifel Nicolaus assumed coverage on shares of TXO Partners in a report on Thursday, September 10th. They set a "buy" rating and a $17.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $19.00.
View Our Latest Analysis on TXO Partners
Institutional Investors Weigh In On TXO Partners
A number of hedge funds have recently bought and sold shares of TXO. Sanders Morris Harris LLC bought a new stake in shares of TXO Partners in the 3rd quarter worth about $4,305,000. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the 2nd quarter valued at about $4,469,000. Hennessy Advisors Inc. bought a new position in shares of TXO Partners in the 2nd quarter valued at about $488,000. Energy Income Partners LLC lifted its holdings in shares of TXO Partners by 27.5% in 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 during the last quarter. Finally, Bank of America Corp DE grew its position 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 worth $4,715,000 after acquiring an additional 270,465 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company's stock.
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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