TXO Partners (NYSE:TXO) Hits New 52-Week High – What’s Next?

TXO Partners LP (NYSE:TXO) shares hit a new 52-week high on Monday . The company traded as high as $15.58 and last traded at $15.4160, with a volume of 10457 shares trading hands. The stock had previously closed at $15.44.

Analyst Upgrades and Downgrades

TXO has been the topic of several recent analyst reports. Stifel Nicolaus initiated coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a “buy” rating and a $17.00 price objective on the stock. Wall Street Zen upgraded TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Weiss Ratings upgraded TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.50.

TXO Partners Price Performance

The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $844.45 million, a PE ratio of -19.78 and a beta of 0.06. The company has a fifty day moving average price of $13.91 and a two-hundred day moving average price of $13.11.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.96. The firm had revenue of $150.87 million for the quarter, compared to the consensus estimate of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. Sell-side analysts forecast that TXO Partners LP will post 0.66 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.5%. This is a boost from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. TXO Partners’s payout ratio is -207.79%.

Insider Activity

In other TXO Partners news, Director Bob Simpson bought 125,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were acquired at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the acquisition, the director directly owned 9,500,000 shares of the company’s stock, valued at $136,040,000. The trade was a 1.33% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders have purchased 500,000 shares of company stock worth $6,898,945 in the last 90 days.

Institutional Trading of TXO Partners

A number of large investors have recently bought and sold shares of the business. Allied Private Wealth LLC purchased a new stake in shares of TXO Partners in the second quarter valued at about $30,000. Fund Advisors of America Inc FL purchased a new position in shares of TXO Partners during the fourth quarter worth about $115,000. Alpine Global Management LLC purchased a new position in shares of TXO Partners during the fourth quarter worth about $182,000. Waterway Wealth Management LLC acquired a new position in TXO Partners in the 4th quarter valued at about $213,000. Finally, Hennessy Advisors Inc. acquired a new position in TXO Partners in the 2nd quarter valued at about $488,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

TXO Partners Company Profile

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing, exploiting and operating conventional energy properties in the United States. Its operations include the production of crude oil, natural gas and natural gas liquids from both operated and non-operated assets.

The company’s asset base is concentrated primarily in the Permian Basin and the San Juan Basin, including properties in New Mexico and surrounding areas. TXO emphasizes mature, producing properties that can provide ongoing production and cash flow through development, optimization and operational improvements.

TXO Partners was established as a publicly traded limited partnership in the 2020s and is headquartered in Midland, Texas.