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

TXO Partners LP (NYSE:TXO) shares gapped up before the market opened 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.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James Financial set a $18.00 target price on TXO Partners in a research report on Tuesday, January 27th. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Stifel Nicolaus upped their price objective on shares of TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a report on Friday, March 6th. Finally, Weiss Ratings lowered shares of TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

TXO Partners Trading Up 2.2%

The business has a 50-day moving average price of $12.01 and a 200-day moving average price of $12.54. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $695.20 million, a P/E ratio of -29.27 and a beta of 0.10.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.67). The business 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%. Analysts anticipate that TXO Partners LP will post 1.02 earnings per share for the current year.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Investors of record on Tuesday, March 10th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Tuesday, March 10th. TXO Partners’s dividend payout ratio is -279.07%.

Insiders Place Their Bets

In other TXO Partners news, CAO Scott T. Agosta sold 10,689 shares of the company’s stock in a transaction on Saturday, January 31st. The stock was sold at an average price of $12.07, for a total value of $129,016.23. Following the sale, the chief accounting officer directly owned 205,474 shares in the company, valued at $2,480,071.18. This represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Brent W. Clum sold 19,571 shares of the stock in a transaction on Saturday, January 31st. The stock was sold at an average price of $12.07, for a total value of $236,221.97. Following the transaction, the chief executive officer owned 827,574 shares of the company’s stock, valued at $9,988,818.18. This represents a 2.31% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 38,386 shares of company stock worth $463,319 over the last quarter.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fund Advisors of America Inc FL acquired a new position in TXO Partners during the 4th quarter worth about $115,000. Alpine Global Management LLC acquired a new position in shares of TXO Partners during the fourth quarter worth approximately $182,000. Virtu Financial LLC bought a new stake in shares of TXO Partners during the fourth quarter valued at approximately $291,000. XTX Topco Ltd bought a new stake in shares of TXO Partners during the fourth quarter valued at approximately $389,000. Finally, Wealthedge Investment Advisors LLC increased its holdings in shares of TXO Partners by 12.2% in the fourth quarter. Wealthedge Investment Advisors LLC now owns 199,568 shares of the company’s stock valued at $2,129,000 after purchasing an additional 21,662 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.