TXO Partners (NYSE:TXO) Sets New 52-Week Low – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO) reached a new 52-week low on Thursday . The company traded as low as $14.99 and last traded at $15.44, with a volume of 3646425 shares changing hands. The stock had previously closed at $17.68.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus initiated coverage on TXO Partners in a report on Wednesday, April 23rd. They set a “buy” rating and a $20.00 price target on the stock.

TXO Partners Stock Performance

The stock has a market capitalization of $638.72 million, a P/E ratio of -2.60 and a beta of 0.17. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50-day moving average price of $17.80 and a 200 day moving average price of $18.03.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The company had revenue of $84.33 million during the quarter, compared to analysts’ expectations of $82.00 million. As a group, sell-side analysts forecast that TXO Partners, L.P. will post 1.02 EPS for the current fiscal year.

TXO Partners Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Investors of record on Friday, May 16th will be issued a $0.61 dividend. This represents a $2.44 dividend on an annualized basis and a dividend yield of 15.80%. The ex-dividend date of this dividend is Friday, May 16th. TXO Partners’s payout ratio is 580.95%.

Insider Activity

In other news, CEO Gary D. Simpson sold 31,517 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $19.08, for a total transaction of $601,344.36. Following the transaction, the chief executive officer now owns 408,053 shares of the company’s stock, valued at approximately $7,785,651.24. This represents a 7.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Trading of TXO Partners

Several institutional investors and hedge funds have recently modified their holdings of TXO. CWM LLC purchased a new position in TXO Partners during the first quarter valued at approximately $77,000. Wilmington Savings Fund Society FSB acquired a new position in TXO Partners during the fourth quarter valued at $72,000. Thurston Springer Miller Herd & Titak Inc. lifted its position in TXO Partners by 109.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock valued at $150,000 after purchasing an additional 4,664 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new position in shares of TXO Partners in the first quarter worth about $216,000. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of TXO Partners during the first quarter worth about $230,000. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.