TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Purchases 33,591 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 33,591 shares of the stock in a transaction on Wednesday, November 11th. The stock was bought at an average price of $13.87 per share, with a total value of $465,907.17. Following the transaction, the director directly owned 9,766,430 shares of the company’s stock, valued at approximately $135,460,384.10. The trade was a 0.35% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

TXO Partners Trading Down 4.7%

Shares of NYSE:TXO traded down $0.66 during trading on Friday, reaching $13.35. 359,994 shares of the company traded hands, compared to its average volume of 147,617. The firm has a market capitalization of $739.98 million, a price-to-earnings ratio of -9.33 and a beta of 0.07. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average is $14.19 and its 200-day moving average is $13.23.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.79). TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. The firm had revenue of $55.09 million during the quarter, compared to analysts’ expectations of $102.05 million. As a group, analysts forecast that TXO Partners LP will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be issued a $0.44 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.76 dividend on an annualized basis and a yield of 13.2%. TXO Partners’s payout ratio is -123.08%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Energy Income Partners LLC raised its holdings in TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after purchasing an additional 312,120 shares in the last quarter. First Trust Advisors LP lifted its position in shares of TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after purchasing an additional 10,877 shares during the period. Bank of America Corp DE lifted its position in shares of TXO Partners by 259.3% in the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after purchasing an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $4,469,000. Finally, Sanders Morris Harris LLC bought a new stake in shares of TXO Partners during the 3rd quarter valued at about $4,305,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on TXO. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Stifel Nicolaus started coverage on shares of TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 target price for the company. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Wall Street Zen cut TXO Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Stephens began coverage on TXO Partners in a report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 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. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $19.00.

About TXO Partners

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.