TXO Partners (NYSE:TXO) Cut to “Strong Sell” at Zacks Research

TXO Partners (NYSE:TXO) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities research analysts have also weighed in on the company. Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. Wall Street Zen lowered TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Finally, Weiss Ratings downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $18.50.

TXO Partners Trading Up 3.3%

Shares of TXO opened at $12.83 on Monday. TXO Partners has a 1-year low of $10.12 and a 1-year high of $15.55. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $12.88 and its 200-day moving average price is $12.25. The firm has a market capitalization of $708.73 million, a price-to-earnings ratio of -6.97 and a beta of 0.07.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.30). TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%.The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $110.71 million. Sell-side analysts anticipate that TXO Partners will post 0.2 EPS for the current year.

Insider Buying and Selling at TXO Partners

In related news, Director Bob R. Simpson purchased 500,000 shares of the stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of $12.67 per share, with a total value of $6,335,000.00. Following the transaction, the director directly owned 7,500,000 shares in the company, valued at $95,025,000. This trade represents a 7.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 2,360,000 shares of company stock worth $31,077,413 in the last ninety days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. CIBC Bancorp USA Inc. bought a new position in TXO Partners during the 3rd quarter valued at about $25,402,000. Global Endowment Management LP raised its stake in TXO Partners by 54.9% during the 3rd quarter. Global Endowment Management LP now owns 2,686,017 shares of the company’s stock valued at $37,739,000 after buying an additional 952,257 shares during the last quarter. JPMorgan Chase & Co. bought a new position in TXO Partners in the fourth quarter valued at about $5,586,000. First Trust Advisors LP purchased a new stake in shares of TXO Partners during the 2nd quarter valued at about $5,830,000. Finally, Energy Income Partners LLC raised its position in 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 acquiring an additional 312,120 shares during the period. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

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.