Insider Buying: TXO Partners (NYSE:TXO) Director Purchases $2,029,562.50 in Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 162,365 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were acquired at an average cost of $12.50 per share, with a total value of $2,029,562.50. Following the completion of the acquisition, the director directly owned 7,000,000 shares in the company, valued at $87,500,000. The trade was a 2.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

TXO Partners Stock Up 1.3%

Shares of NYSE TXO opened at $13.05 on Thursday. The company has a market capitalization of $720.88 million, a price-to-earnings ratio of -7.09 and a beta of 0.02. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43. The business has a 50-day moving average of $12.46 and a two-hundred day moving average of $12.18. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $16.26.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). The business had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $110.71 million. TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%. On average, analysts forecast that TXO Partners LP will post 0.41 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.0%. The ex-dividend date of this dividend is Friday, May 15th. This is an increase from TXO Partners’s previous quarterly dividend of $0.30. TXO Partners’s dividend payout ratio (DPR) is presently -65.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TXO. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday. Raymond James Financial reissued a “strong-buy” rating on shares of TXO Partners in a report on Wednesday, April 29th. Stifel Nicolaus boosted their target price on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 6th. Finally, Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, May 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, TXO Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in TXO Partners by 100.2% in the 4th quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock valued at $28,000 after acquiring an additional 1,303 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. increased its position in TXO Partners by 0.8% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 181,500 shares of the company’s stock valued at $2,550,000 after acquiring an additional 1,500 shares during the period. State of Wyoming acquired a new position in TXO Partners in the 2nd quarter valued at about $45,000. Arlington Trust Co LLC acquired a new position in TXO Partners in the 3rd quarter valued at about $56,000. Finally, Kestra Advisory Services LLC acquired a new position in TXO Partners in the 4th quarter valued at about $49,000. Institutional investors and hedge funds 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.