Insider Buying: TXO Partners (NYSE:TXO) Director Buys 10,000 Shares of Stock

TXO Partners LP (NYSE:TXO) Director William Adams III acquired 10,000 shares of TXO Partners stock in a transaction dated Friday, May 8th. The stock was purchased at an average price of $12.41 per share, for a total transaction of $124,100.00. Following the completion of the acquisition, the director directly owned 128,951 shares in the company, valued at approximately $1,600,281.91. This represents a 8.41% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TXO Partners Stock Up 1.7%

Shares of TXO Partners stock traded up $0.21 during trading on Monday, hitting $12.52. 845,802 shares of the stock were exchanged, compared to its average volume of 210,434. The stock has a market cap of $691.75 million, a price-to-earnings ratio of -6.81 and a beta of 0.02. The firm’s 50-day moving average price is $12.45 and its 200 day moving average price is $12.19. TXO Partners LP has a 12-month low of $10.12 and a 12-month high of $17.90. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Monday, May 4th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($1.30). The firm had revenue of $28.28 million for the quarter, compared to analysts’ expectations 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, analysts forecast that TXO Partners LP will post 0.41 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 22nd. Stockholders of record on Friday, May 15th will be given a dividend of $0.36 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, May 15th. This represents a $1.44 annualized dividend and a dividend yield of 11.5%. TXO Partners’s dividend payout ratio is presently -78.26%.

Institutional Trading of TXO Partners

Several institutional investors have recently modified their holdings of TXO. CIBC Bancorp USA Inc. purchased a new stake in shares of TXO Partners during the 3rd quarter worth approximately $25,402,000. Global Endowment Management LP lifted its position in shares of 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 buying an additional 952,257 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in TXO Partners in the 4th quarter valued at $5,586,000. First Trust Advisors LP purchased a new stake in TXO Partners in the 2nd quarter valued at $5,830,000. Finally, ING Groep NV raised its position in 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 purchasing an additional 242,000 shares during the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus boosted their price objective on shares of TXO Partners from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. Weiss Ratings restated a “sell (d+)” rating on shares of TXO Partners in a research report on Friday, April 10th. Finally, Raymond James Financial restated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. One investment 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.