TXO Partners (NYSE:TXO) Share Price Breaks Above Fifty Day Moving Average – Here’s Why

TXO Partners LP (NYSE:TXO) passed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $14.40 and traded as high as $14.64. TXO Partners shares last traded at $14.4450, with a volume of 84,636 shares changing hands.

Wall Street Analysts Forecast Growth

TXO has been the topic of several analyst reports. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Stephens assumed coverage on TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 target price for the company. Stifel Nicolaus initiated coverage on TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target for the company. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, TXO Partners currently has an average rating of “Buy” and an average target price of $19.00.

TXO Partners Trading Down 0.5%

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 business’s 50-day moving average price is $14.40 and its two-hundred day moving average price is $13.11.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The business had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. As a group, equities analysts anticipate that TXO Partners LP will post 0.60 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 11.4%. TXO Partners’s payout ratio is presently -207.79%.

Insider Transactions at TXO Partners

In other TXO Partners news, Director Bob Simpson purchased 125,000 shares of the stock in a transaction on Thursday, August 13th. The stock was bought at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders bought 400,000 shares of company stock valued at $5,638,250 over the last ninety days.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds have recently modified their holdings of TXO. Apollon Wealth Management LLC grew its position in shares of TXO Partners by 5.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after purchasing an additional 716 shares during the period. CWA Asset Management Group LLC raised its holdings in TXO Partners by 7.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after buying an additional 1,272 shares during the period. Allied Private Wealth LLC acquired a new stake in TXO Partners during the 2nd quarter worth approximately $30,000. First Trust Advisors LP raised its holdings in TXO Partners by 2.1% during the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after buying an additional 10,877 shares during the period. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in TXO Partners by 6.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company’s stock valued at $3,609,000 after buying an additional 17,000 shares in the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.