Insider Buying: TXO Partners (NYSE:TXO) Director Acquires 87,635 Shares of Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson purchased 87,635 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was acquired at an average cost of $12.43 per share, with a total value of $1,089,303.05. Following the transaction, the director directly owned 6,837,635 shares in the company, valued at $84,991,803.05. This trade represents a 1.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

TXO Partners Stock Up 1.7%

Shares of NYSE:TXO traded up $0.21 during trading on Monday, hitting $12.52. The company’s stock had a trading volume of 845,802 shares, compared to its average volume of 210,434. The business has a 50 day moving average price of $12.45 and a two-hundred day moving average price of $12.19. The company has a market capitalization of $691.75 million, a PE ratio of -6.81 and a beta of 0.02. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.43 and a current ratio of 0.43. TXO Partners LP has a fifty-two week low of $10.12 and a fifty-two week high of $17.90.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Monday, May 4th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($0.05) by ($1.30). The business had revenue of $28.28 million during the quarter, compared to analyst estimates 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, research analysts expect that TXO Partners LP will post 0.41 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 22nd. Shareholders of record on Friday, May 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.5%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, May 15th. TXO Partners’s payout ratio is presently -78.26%.

Institutional Investors Weigh In On TXO Partners

A number of large investors have recently modified their holdings of TXO. CIBC Bancorp USA Inc. acquired a new position in shares of TXO Partners in the 3rd quarter valued at $25,402,000. Global Endowment Management LP boosted its holdings in shares of TXO Partners by 54.9% in 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. JPMorgan Chase & Co. acquired a new position in shares of TXO Partners in the 4th quarter valued at $5,586,000. First Trust Advisors LP acquired a new position in shares of TXO Partners in the 2nd quarter valued at $5,830,000. Finally, ING Groep NV boosted its holdings in shares of TXO Partners by 149.4% in the 3rd quarter. ING Groep NV now owns 404,000 shares of the company’s stock valued at $5,676,000 after buying an additional 242,000 shares in the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on TXO shares. Stifel Nicolaus increased their price objective on shares of TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Wall Street Zen downgraded shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday. Raymond James Financial reissued a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of TXO Partners in a research report on Friday, April 10th. One 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 stock. According to MarketBeat.com, TXO Partners currently has a consensus rating of “Moderate Buy” and an average target price of $18.50.

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.