TXO Partners (NYSE:TXO) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of TXO Partners (NYSE:TXO) from a buy rating to a strong-buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other research firms have also recently issued reports on TXO. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Stifel Nicolaus began coverage on shares of TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 price objective for the company. Finally, Zacks Research raised shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Two 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $17.50.

TXO Partners Price Performance

Shares of NYSE TXO opened at $14.28 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners has a fifty-two week low of $10.12 and a fifty-two week high of $15.58. The business has a 50 day moving average price of $14.13 and a two-hundred day moving average price of $13.21. The firm has a market cap of $791.83 million, a PE ratio of -18.55 and a beta of 0.06.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The company had revenue of $150.87 million for the quarter, compared to analyst estimates of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. Sell-side analysts expect that TXO Partners will post 0.58 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 11.2%. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s dividend payout ratio is currently -207.79%.

Insider Transactions at TXO Partners

In other TXO Partners news, Director Bob Simpson acquired 125,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was purchased at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the completion of the acquisition, the director directly owned 9,500,000 shares in the company, valued at $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 accessible through the SEC website. Insiders acquired 400,000 shares of company stock worth $5,638,250 in the last quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Allied Private Wealth LLC bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $30,000. Fund Advisors of America Inc FL bought a new position in TXO Partners in the fourth quarter worth about $115,000. Alpine Global Management LLC bought a new position in TXO Partners in the fourth quarter worth about $182,000. Waterway Wealth Management LLC acquired a new position in TXO Partners in the fourth quarter valued at approximately $213,000. Finally, Hennessy Advisors Inc. acquired a new position in TXO Partners in the second quarter valued at approximately $488,000. 27.44% of the stock is owned by institutional investors and hedge funds.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing, exploiting and operating conventional energy properties in the United States. Its operations include the production of crude oil, natural gas and natural gas liquids from both operated and non-operated assets.

The company’s asset base is concentrated primarily in the Permian Basin and the San Juan Basin, including properties in New Mexico and surrounding areas. TXO emphasizes mature, producing properties that can provide ongoing production and cash flow through development, optimization and operational improvements.

TXO Partners was established as a publicly traded limited partnership in the 2020s and is headquartered in Midland, Texas.