Bob Simpson Buys 104,451 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson bought 104,451 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were acquired at an average price of $13.77 per share, for a total transaction of $1,438,290.27. Following the completion of the transaction, the director owned 8,300,000 shares in the company, valued at approximately $114,291,000. This trade represents a 1.27% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

TXO Partners Stock Performance

TXO Partners stock opened at $12.84 on Thursday. 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 LP has a 1 year low of $10.12 and a 1 year high of $16.26. The company has a market cap of $709.01 million, a PE ratio of -6.98 and a beta of 0.02. The company’s 50-day moving average is $12.62 and its two-hundred day moving average is $12.19.

TXO Partners (NYSE:TXO) last released its earnings results on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) 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 analyst estimates of $110.71 million. Equities analysts anticipate that TXO Partners LP will post 0.41 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 15th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date was Friday, May 15th. This is a boost from TXO Partners’s previous quarterly dividend of $0.30. TXO Partners’s dividend payout ratio is currently -78.26%.

Institutional Trading of TXO Partners

Hedge funds have recently modified their holdings of the company. ING Groep NV raised its position 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 acquiring an additional 242,000 shares during the period. CIBC Bancorp USA Inc. bought a new stake in TXO Partners during the 3rd quarter worth approximately $25,402,000. Global Endowment Management LP increased its stake 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 worth $37,739,000 after purchasing an additional 952,257 shares in the last quarter. Wealthedge Investment Advisors LLC increased its stake in TXO Partners by 100.1% during the 3rd quarter. Wealthedge Investment Advisors LLC now owns 177,906 shares of the company’s stock worth $2,500,000 after purchasing an additional 88,992 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its stake in TXO Partners by 3.0% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 1,807,967 shares of the company’s stock worth $25,402,000 after purchasing an additional 52,903 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TXO has been the topic of a number of research reports. Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. Stifel Nicolaus upped their target price 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. Weiss Ratings downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen downgraded shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average 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.