TXO Partners (NYSE:TXO) Rating Lowered to Strong Sell at Zacks Research

TXO Partners (NYSE:TXO) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday,Zacks.com reports.

TXO has been the topic of a number of other research reports. Weiss Ratings lowered shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday, May 12th. Wall Street Zen lowered TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Raymond James Financial reaffirmed 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 assigned a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $18.50.

TXO Partners Trading Up 3.3%

NYSE:TXO opened at $12.83 on Monday. The stock’s 50 day moving average price is $12.88 and its 200 day moving average price is $12.25. TXO Partners has a 52 week low of $10.12 and a 52 week high of $15.55. The company has a market capitalization of $708.73 million, a P/E ratio of -6.97 and a beta of 0.07. 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 (NYSE:TXO) last issued its quarterly earnings data on Monday, May 4th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($1.30). The business had revenue of $28.28 million for the quarter, compared to the consensus estimate of $110.71 million. TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. On average, research analysts forecast that TXO Partners will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other TXO Partners news, Director Bob R. Simpson purchased 63,282 shares of the stock in a transaction on Tuesday, June 23rd. The shares were purchased at an average price of $12.64 per share, with a total value of $799,884.48. Following the acquisition, the director directly owned 9,100,000 shares of the company’s stock, valued at $115,024,000. This represents a 0.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have acquired a total of 2,360,000 shares of company stock worth $31,077,413 in the last 90 days.

Institutional Trading of TXO Partners

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TXO. Royal Bank of Canada raised its position in TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock worth $28,000 after purchasing an additional 1,303 shares in the last quarter. State of Wyoming acquired a new position in shares of TXO Partners in the 2nd quarter worth approximately $45,000. Kestra Advisory Services LLC bought a new position in shares of TXO Partners during the 4th quarter worth approximately $49,000. Fund Advisors of America Inc FL bought a new position in shares of TXO Partners during the 4th quarter worth approximately $115,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in TXO Partners by 243.5% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,974 shares of the company’s stock valued at $117,000 after buying an additional 7,779 shares in the last quarter. 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.