TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Acquires 67,111 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 67,111 shares of the business’s stock in a transaction dated Friday, November 6th. The shares were purchased at an average price of $12.97 per share, for a total transaction of $870,429.67. Following the acquisition, the director owned 9,567,111 shares of the company’s stock, valued at approximately $124,085,429.67. The trade was a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

TXO Partners Stock Performance

Shares of TXO opened at $13.94 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.63 and a quick ratio of 0.63. The firm has a 50 day moving average of $14.24 and a 200 day moving average of $13.21. TXO Partners LP has a twelve month low of $10.12 and a twelve month high of $15.58.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. The firm had revenue of $55.09 million during the quarter, compared to analysts’ expectations of $102.05 million. Analysts predict that TXO Partners LP will post 0.65 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be paid a $0.44 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 12.6%. The ex-dividend date is Friday, November 13th. TXO Partners’s dividend payout ratio (DPR) is presently -111.89%.

Institutional Trading of TXO Partners

A number of hedge funds have recently bought and sold shares of the company. Sanders Morris Harris LLC purchased a new position in TXO Partners in the third quarter worth about $4,305,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $4,469,000. Hennessy Advisors Inc. bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $488,000. Energy Income Partners LLC grew its stake in shares of TXO Partners by 27.5% during the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after purchasing an additional 312,120 shares during the period. Finally, Bank of America Corp DE increased its position in shares of TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after purchasing an additional 270,465 shares during the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Stifel Nicolaus initiated 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. 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 objective on the stock. Wall Street Zen cut shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 7th. Finally, Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $19.00.

TXO Partners Company Profile

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company’s activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.