TXO Partners (NYSE:TXO) Sets New 52-Week High – What’s Next?

TXO Partners LP (NYSE:TXO) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $15.27 and last traded at $15.1940, with a volume of 258996 shares. The stock had previously closed at $15.06.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Finally, Weiss Ratings upgraded shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $18.50.

TXO Partners Price Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $853.04 million, a P/E ratio of -19.98 and a beta of 0.06. The stock’s 50-day simple moving average is $13.69 and its two-hundred day simple moving average is $13.04.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.96. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The business had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. Equities research analysts forecast that TXO Partners LP will post 0.58 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 10.4%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. TXO Partners’s dividend payout ratio is -207.79%.

Insider Activity

In related news, Director Bob Simpson purchased 125,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the acquisition, the director owned 9,500,000 shares in the company, valued at approximately $136,040,000. This trade represents a 1.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have acquired 500,000 shares of company stock worth $6,898,945 over the last ninety days.

Institutional Trading of TXO Partners

A number of large investors have recently modified their holdings of TXO. ING Groep NV increased its stake in shares of TXO Partners by 24.8% during the fourth quarter. ING Groep NV now owns 504,000 shares of the company’s stock valued at $5,378,000 after buying an additional 100,000 shares during the period. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners during the 2nd quarter worth approximately $4,469,000. Energy Income Partners LLC lifted its holdings in shares of TXO Partners by 27.5% during the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after purchasing an additional 312,120 shares during the last quarter. Bank of America Corp DE raised its stake in TXO Partners by 259.3% in the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after buying an additional 270,465 shares during the last quarter. Finally, Hennessy Advisors Inc. acquired a new stake in TXO Partners in the second quarter worth about $488,000. Hedge funds and other 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.