TXO Partners LP (NYSE:TXO) Stock Short Interest Falls 44.5%

TXO Partners LP (NYSE:TXO) saw a large decline in short interest in October. As of October 15th, there was short interest totaling 418,689 shares, a decline of 44.5% from the September 30th total of 754,887 shares. Approximately 0.8% of the company’s stock are sold short. Based on an average daily volume of 105,670 shares, the short-interest ratio is presently 4.0 days.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the transaction, the director owned 9,500,000 shares of the company’s stock, 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 can be accessed through this link. In the last quarter, insiders have bought 400,000 shares of company stock valued at $5,638,250.

Institutional Trading of TXO Partners

Large investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC purchased a new position in shares of TXO Partners during the third quarter valued at approximately $217,000. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in shares of TXO Partners by 6.9% during the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company’s stock valued at $3,609,000 after buying an additional 17,000 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of TXO Partners by 5.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after buying an additional 716 shares during the period. CWA Asset Management Group LLC boosted its stake in shares of TXO Partners by 7.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after buying an additional 1,272 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in shares of TXO Partners in the third quarter worth $4,305,000. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Stock Performance

Shares of TXO Partners stock traded down $0.07 during trading on Friday, hitting $14.05. 135,099 shares of the company’s stock traded hands, compared to its average volume of 91,226. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. TXO Partners has a 1 year low of $10.12 and a 1 year high of $15.58. The stock has a market capitalization of $779.35 million, a P/E ratio of -18.25 and a beta of 0.08. The business has a 50-day simple moving average of $14.40 and a 200-day simple moving average of $13.11.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. The business had revenue of $150.87 million during the quarter, compared to analyst estimates of $116.24 million. As a group, analysts forecast that TXO Partners will post 0.60 EPS for the current year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.4%. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s payout ratio is -207.79%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Wall Street Zen raised shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Stephens assumed coverage on shares of TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price target for the company. Stifel Nicolaus assumed coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective for the company. Finally, Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research report on Monday. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, TXO Partners currently has an average rating of “Buy” and an average price target of $19.00.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.