TXO Partners (NYSE:TXO) Director Bob Simpson Buys 33,591 Shares of Company Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 33,591 shares of the company’s stock in a transaction dated Wednesday, November 11th. The shares were bought at an average cost of $13.87 per share, with a total value of $465,907.17. Following the completion of the acquisition, the director directly owned 9,766,430 shares in the company, valued at $135,460,384.10. The trade was a 0.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

TXO Partners Price Performance

NYSE:TXO traded down $0.66 during midday trading on Friday, hitting $13.35. The company had a trading volume of 359,994 shares, compared to its average volume of 147,617. The company has a market capitalization of $739.98 million, a PE ratio of -9.33 and a beta of 0.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. The stock’s fifty day moving average price is $14.19 and its 200-day moving average price is $13.23.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The firm had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $102.05 million. As a group, research analysts expect that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be given a dividend of $0.44 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.40. The ex-dividend date is Friday, November 13th. This represents a $1.76 annualized dividend and a dividend yield of 13.2%. TXO Partners’s dividend payout ratio is currently -123.08%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TXO. Wall Street Zen cut TXO Partners from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 7th. Stephens assumed coverage on TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price target on the stock. Stifel Nicolaus started coverage on TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 price target on the stock. Zacks Research upgraded TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Finally, Weiss Ratings cut TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $19.00.

Institutional Investors Weigh In On TXO Partners

Several institutional investors and hedge funds have recently modified their holdings of TXO. Apollon Wealth Management LLC raised its holdings in shares of TXO Partners by 5.8% during the third 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 last quarter. CWA Asset Management Group LLC boosted its holdings in TXO Partners by 7.5% in the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after purchasing an additional 1,272 shares during the last quarter. Allied Private Wealth LLC purchased a new stake in TXO Partners in the second quarter worth approximately $30,000. Arrow Investment Advisors LLC grew its position in TXO Partners by 14.0% in the 3rd quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company’s stock worth $264,000 after purchasing an additional 2,374 shares during the period. Finally, HighTower Advisors LLC grew its position in TXO Partners by 41.2% in the 3rd quarter. HighTower Advisors LLC now owns 15,773 shares of the company’s stock worth $216,000 after purchasing an additional 4,603 shares during the period. 27.44% of the stock is owned by hedge funds and other institutional investors.

About TXO Partners

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company’s activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.