TXO Partners (NYSE:TXO) Director Bob Simpson Buys 86,796 Shares of Company Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 86,796 shares of the company’s stock in a transaction dated Tuesday, November 10th. The stock was acquired at an average cost of $13.49 per share, for a total transaction of $1,170,878.04. Following the completion of the acquisition, the director directly owned 9,732,839 shares in the company, valued at approximately $131,295,998.11. The trade was a 0.90% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink.

TXO Partners Stock Up 4.3%

NYSE:TXO opened at $13.73 on Wednesday. The firm has a market capitalization of $761.33 million, a P/E ratio of -9.60 and a beta of 0.07. TXO Partners LP has a 1-year low of $10.12 and a 1-year high of $15.58. The company’s fifty day moving average price is $14.26 and its 200-day moving average price is $13.20. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.63 and a quick ratio of 0.63.

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

TXO Partners Increases Dividend

The business also recently disclosed 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 dividend yield of 12.8%. The ex-dividend date is Friday, November 13th. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. TXO Partners’s dividend payout ratio (DPR) is -123.08%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allied Private Wealth LLC purchased a new stake in shares of TXO Partners during the 2nd quarter worth about $30,000. Simplex Trading LLC acquired a new stake in shares of TXO Partners during the 3rd quarter valued at about $67,000. Virtus Advisers LLC grew its position in shares of TXO Partners by 93.6% during the 3rd quarter. Virtus Advisers LLC now owns 10,035 shares of the company’s stock valued at $137,000 after acquiring an additional 4,851 shares during the period. Apollon Wealth Management LLC increased its stake in shares of TXO Partners by 5.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after purchasing an additional 716 shares in the last quarter. Finally, Chicago Partners Investment Group LLC purchased a new position in shares of TXO Partners in the 3rd quarter valued at about $217,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus assumed coverage on TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price on the stock. Weiss Ratings upgraded TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday, October 26th. Stephens assumed coverage on TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price target for the company. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Finally, Wall Street Zen lowered TXO Partners from a “strong-buy” rating to a “hold” rating in a research report on Saturday. Two research 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $19.00.

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.