TXO Partners (NYSE:TXO) Director Bob Simpson Buys 63,282 Shares of Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 63,282 shares of the company’s stock in a transaction on Tuesday, June 23rd. The shares were bought at an average cost of $12.64 per share, for a total transaction of $799,884.48. Following the transaction, the director owned 9,100,000 shares in the company, valued at $115,024,000. The trade was a 0.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link.

TXO Partners Trading Down 2.3%

NYSE TXO opened at $12.42 on Thursday. The company has a fifty day simple moving average of $12.78 and a two-hundred day simple moving average of $12.20. The stock has a market cap of $686.08 million, a P/E ratio of -6.75 and a beta of 0.06. TXO Partners LP has a 12-month low of $10.12 and a 12-month 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.

TXO Partners (NYSE:TXO) last issued its 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). TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%.The firm had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $110.71 million. On average, analysts forecast that TXO Partners LP will post 0.41 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were issued a $0.36 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date of this dividend was Friday, May 15th. TXO Partners’s dividend payout ratio is currently -78.26%.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently modified their holdings of the stock. Glenmede Trust Co. NA boosted its stake in shares of TXO Partners by 33.1% in the first quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company’s stock worth $1,314,000 after buying an additional 26,000 shares during the last quarter. Bank of America Corp DE grew its holdings in TXO Partners by 259.3% during the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after acquiring an additional 270,465 shares during the period. Energy Income Partners LLC raised its position in TXO Partners by 27.5% during the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares in the last quarter. First Trust Advisors LP raised its position in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares in the last quarter. Finally, Fund Advisors of America Inc FL acquired a new position in TXO Partners in the fourth quarter valued at approximately $115,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analyst Weigh In

TXO has been the subject of a number of research reports. Raymond James Financial reaffirmed a “strong-buy” rating on shares of TXO Partners in a report on Wednesday, April 29th. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Stifel Nicolaus raised their price target on shares of TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, June 13th. One 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $18.50.

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.