Bob Simpson Acquires 230,847 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 230,847 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $13.41 per share, for a total transaction of $3,095,658.27. Following the acquisition, the director directly owned 8,630,847 shares of the company’s stock, valued at $115,739,658.27. This represents a 2.75% increase in their position. The acquisition 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 stock opened at $13.71 on Friday. TXO Partners LP has a 1-year low of $10.12 and a 1-year high of $16.26. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $757.33 million, a price-to-earnings ratio of -7.45 and a beta of 0.06. The stock’s fifty day simple moving average is $12.70 and its 200-day simple moving average is $12.18.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Monday, May 4th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($1.30). TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. The business had revenue of $28.28 million for the quarter, compared to analysts’ expectations of $110.71 million. On average, sell-side analysts predict that TXO Partners LP will post 0.41 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 15th were issued a dividend of $0.36 per share. 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 dividend yield of 10.5%. The ex-dividend date was Friday, May 15th. TXO Partners’s dividend payout ratio is presently -78.26%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TXO. CIBC Bancorp USA Inc. purchased a new position in TXO Partners in the third quarter valued at about $25,402,000. Global Endowment Management LP grew its stake in TXO Partners by 54.9% in the third quarter. Global Endowment Management LP now owns 2,686,017 shares of the company’s stock valued at $37,739,000 after purchasing an additional 952,257 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in TXO Partners in the fourth quarter valued at about $5,586,000. First Trust Advisors LP acquired a new stake in shares of TXO Partners in the second quarter worth about $5,830,000. Finally, Energy Income Partners LLC lifted its position in shares of TXO Partners by 27.5% in 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 during the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James Financial reiterated a “strong-buy” rating on shares of TXO Partners in a report on Wednesday, April 29th. Stifel Nicolaus boosted their target price on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, March 6th. Weiss Ratings downgraded TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.