TXO Partners (NYSE:TXO) Shares Gap Up – Here’s Why

TXO Partners LP (NYSE:TXO)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $12.31, but opened at $12.65. TXO Partners shares last traded at $12.5890, with a volume of 34,493 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TXO. Weiss Ratings cut shares of TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Raymond James Financial set a $18.00 price objective on TXO Partners in a research note on Tuesday, January 27th. Wall Street Zen upgraded TXO Partners from a “sell” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Stifel Nicolaus boosted 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. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

TXO Partners Stock Performance

The stock has a market cap of $704.37 million, a P/E ratio of -29.65 and a beta of 0.10. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.62 and a quick ratio of 0.62. The stock’s 50 day simple moving average is $12.10 and its two-hundred day simple moving average is $12.53.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.67). The company had revenue of $125.93 million for the quarter, compared to analyst estimates of $111.09 million. TXO Partners had a negative return on equity of 2.03% and a negative net margin of 5.39%. As a group, research analysts forecast that TXO Partners LP will post 1.02 EPS for the current year.

TXO Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend was Tuesday, March 10th. TXO Partners’s payout ratio is -279.07%.

Insider Buying and Selling at TXO Partners

In other TXO Partners news, CEO Brent W. Clum sold 19,571 shares of the company’s stock in a transaction on Saturday, January 31st. The shares were sold at an average price of $12.07, for a total value of $236,221.97. Following the transaction, the chief executive officer directly owned 827,574 shares in the company, valued at $9,988,818.18. The trade was a 2.31% decrease 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. Also, CEO Gary D. Simpson sold 8,126 shares of the firm’s stock in a transaction dated Saturday, January 31st. The stock was sold at an average price of $12.07, for a total transaction of $98,080.82. Following the sale, the chief executive officer owned 608,252 shares of the company’s stock, valued at approximately $7,341,601.64. This represents a 1.32% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 38,386 shares of company stock worth $463,319 over the last ninety days.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors have recently made changes to their positions in TXO. CIBC Bancorp USA Inc. acquired a new position in shares of TXO Partners in the third quarter valued at approximately $25,402,000. Global Endowment Management LP boosted its stake 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. JPMorgan Chase & Co. acquired a new position in TXO Partners in the 4th quarter valued at $5,586,000. American Century Companies Inc. grew its holdings in TXO Partners by 40.7% in the 2nd quarter. American Century Companies Inc. now owns 1,490,548 shares of the company’s stock valued at $22,418,000 after buying an additional 431,234 shares in the last quarter. Finally, First Trust Advisors LP bought a new position in TXO Partners during the 2nd quarter worth $5,830,000. Institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

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.