TXO Partners (NYSE:TXO) Shares Cross Above 200 Day Moving Average – Time to Sell?

TXO Partners LP (NYSE:TXO)’s stock price crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $13.18 and traded as high as $13.32. TXO Partners shares last traded at $13.1950, with a volume of 274,710 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on TXO shares. Wall Street Zen lowered shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Stephens assumed coverage on shares of TXO Partners in a report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price target on the stock. Finally, Stifel Nicolaus began coverage on shares of TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, TXO Partners currently has an average rating of “Buy” and an average target price of $19.00.

TXO Partners Trading Up 1.5%

The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The business has a 50 day moving average price of $14.24 and a 200 day moving average price of $13.21.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). The company had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million. TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. On average, research analysts predict that TXO Partners LP will post 0.65 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a dividend of $0.44 per share. The ex-dividend date is Friday, November 13th. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.6%. TXO Partners’s payout ratio is presently -111.89%.

Insider Activity at TXO Partners

In other TXO Partners news, Director Bob Simpson purchased 125,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the completion of the acquisition, the director directly owned 9,500,000 shares of the company’s stock, valued at $136,040,000. This trade represents a 1.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders bought 357,839 shares of company stock valued at $4,869,264.

Institutional Trading of TXO Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sanders Morris Harris LLC acquired a new stake in TXO Partners during the 3rd quarter worth about $4,305,000. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the second quarter valued at about $4,469,000. Hennessy Advisors Inc. purchased a new stake in TXO Partners during the second quarter valued at about $488,000. Energy Income Partners LLC boosted its holdings in shares of TXO Partners by 27.5% in the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after buying an additional 312,120 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of 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 buying an additional 270,465 shares during the period. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Company Profile

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.