Bob Simpson Purchases 369,153 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 369,153 shares of TXO Partners stock in a transaction that occurred on Wednesday, June 3rd. The stock was purchased at an average cost of $13.91 per share, for a total transaction of $5,134,918.23. Following the completion of the purchase, the director owned 9,000,000 shares of the company’s stock, valued at $125,190,000. This trade represents a 4.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

TXO Partners Trading Up 2.0%

NYSE TXO opened at $13.71 on Friday. TXO Partners LP has a 12 month low of $10.12 and a 12 month high of $16.26. The stock has a market cap of $757.33 million, a P/E ratio of -7.45 and a beta of 0.06. The stock’s fifty day moving average price is $12.70 and its 200-day moving average price is $12.18. 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 released its earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). The company had revenue of $28.28 million during the quarter, compared to analysts’ expectations of $110.71 million. TXO Partners had a negative return on equity of 14.13% and a negative net margin of 28.52%. As a group, equities analysts forecast that TXO Partners LP will post 0.41 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were issued a $0.36 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.30. This represents a $1.44 dividend on an annualized basis and a yield of 10.5%. The ex-dividend date of this dividend was Friday, May 15th. TXO Partners’s dividend payout ratio is currently -78.26%.

Analyst Upgrades and Downgrades

TXO has been the subject of a number of analyst reports. Wall Street Zen cut TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. Weiss Ratings cut TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Stifel Nicolaus upped their price target on TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. One equities 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 issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently added to or reduced their stakes in the company. Global Endowment Management LP grew its holdings in TXO Partners by 54.9% during the 3rd quarter. Global Endowment Management LP now owns 2,686,017 shares of the company’s stock valued at $37,739,000 after buying an additional 952,257 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in shares of TXO Partners by 12.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,034,567 shares of the company’s stock valued at $21,709,000 after purchasing an additional 226,600 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in shares of TXO Partners in the 3rd quarter valued at approximately $25,402,000. Energy Income Partners LLC lifted its stake in shares of TXO Partners by 27.5% in 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of TXO Partners by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock valued at $10,767,000 after purchasing an additional 35,990 shares during the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.