TXO Partners (NYSE:TXO) Posts Quarterly Earnings Results, Misses Expectations By $0.79 EPS

TXO Partners (NYSE:TXO) released its quarterly earnings data on Tuesday. The company reported ($0.58) earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79), FiscalAI reports. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The company had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million.

TXO Partners Trading Up 0.3%

Shares of TXO opened at $13.13 on Thursday. The stock’s fifty day simple moving average is $14.36 and its 200 day simple moving average is $13.15. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. TXO Partners has a twelve month low of $10.12 and a twelve month high of $15.58. The firm has a market capitalization of $728.12 million, a P/E ratio of -17.25 and a beta of 0.07.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be given a dividend of $0.44 per share. The ex-dividend date is Friday, November 13th. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 13.4%. TXO Partners’s dividend payout ratio (DPR) is presently -207.79%.

Insiders Place Their Bets

In other TXO Partners news, Director Bob Simpson acquired 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, for a total transaction of $1,790,000.00. Following the completion of the purchase, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. The trade was a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders bought 400,000 shares of company stock valued at $5,638,250 over the last three months.

Wall Street Analyst Weigh In

Several brokerages recently commented on TXO. Wall Street Zen raised shares of TXO Partners from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 3rd. Weiss Ratings upgraded TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Stephens began coverage on TXO Partners in a research note on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, TXO Partners has a consensus rating of “Buy” and an average price target of $19.00.

TXO Partners Company Profile

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.