TXO Partners (NYSE:TXO) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of TXO Partners (NYSE:TXO) from a hold rating to a strong-buy rating in a research note issued to investors on Thursday morning,Zacks reports.

A number of other equities analysts have also commented on TXO. Wall Street Zen raised TXO Partners from a “sell” rating to a “buy” rating in a report on Saturday, August 8th. Weiss Ratings upgraded TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $18.50.

TXO Partners Stock Performance

Shares of TXO stock opened at $15.08 on Thursday. The stock has a market capitalization of $836.13 million, a P/E ratio of -19.58 and a beta of 0.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm’s 50 day moving average is $13.52 and its 200 day moving average is $12.98. TXO Partners has a 12 month low of $10.12 and a 12 month high of $15.27.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $116.24 million. On average, sell-side analysts anticipate that TXO Partners will post 0.58 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $0.40 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Friday, August 14th. TXO Partners’s dividend payout ratio is presently -207.79%.

Insiders Place Their Bets

In other news, Director Bob Simpson bought 125,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the acquisition, the director owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. The trade was a 1.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have purchased 500,000 shares of company stock worth $6,898,945.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in shares of TXO Partners by 12.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 2,034,567 shares of the company’s stock worth $21,709,000 after buying an additional 226,600 shares in the last quarter. Energy Income Partners LLC grew 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 worth $18,229,000 after buying an additional 312,120 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in TXO Partners by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after buying an additional 35,990 shares in the last quarter. JPMorgan Chase & Co. bought a new position in TXO Partners in the 4th quarter worth about $5,586,000. Finally, First Trust Advisors LP increased its stake in TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after acquiring an additional 10,877 shares during the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.