TXO Partners (NYSE:TXO) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of TXO Partners (NYSE:TXO) from a buy rating to a strong-buy rating in a research note released on Saturday,Wall Street Zen reports.

Several other equities analysts have also weighed in on TXO. Stifel Nicolaus initiated coverage on shares of TXO Partners in a research report on Thursday, September 10th. They set a “buy” rating and a $17.00 price objective for the company. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 21st. Finally, Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to MarketBeat, TXO Partners presently has an average rating of “Buy” and an average target price of $17.50.

TXO Partners Trading Down 0.4%

Shares of TXO Partners stock opened at $14.28 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a market cap of $791.60 million, a price-to-earnings ratio of -18.54 and a beta of 0.06. The business has a fifty day simple moving average of $14.16 and a 200-day simple moving average of $13.23. TXO Partners has a fifty-two week low of $10.12 and a fifty-two week high of $15.58.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The business had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. On average, equities analysts forecast that TXO Partners will post 0.58 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $0.40 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.2%. TXO Partners’s dividend payout ratio is -207.79%.

Insider Buying and Selling at TXO Partners

In related news, Director Bob Simpson purchased 125,000 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the purchase, the director owned 9,500,000 shares of the company’s stock, valued at $136,040,000. This trade represents a 1.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders acquired 400,000 shares of company stock valued at $5,638,250.

Institutional Trading of TXO Partners

A number of hedge funds have recently bought and sold shares of TXO. Allied Private Wealth LLC purchased a new position in shares of TXO Partners during the second quarter valued at $30,000. Fund Advisors of America Inc FL purchased a new stake in TXO Partners in the 4th quarter worth about $115,000. First Trust Advisors LP lifted its stake in TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock worth $6,511,000 after acquiring an additional 10,877 shares in the last quarter. Alpine Global Management LLC acquired a new stake in TXO Partners during the 4th quarter worth about $182,000. Finally, Waterway Wealth Management LLC acquired a new stake in TXO Partners during the 4th quarter worth about $213,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

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.