Insider Buying: TXO Partners (NYSE:TXO) Director Purchases $870,429.67 in Stock

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 67,111 shares of the stock in a transaction dated Friday, November 6th. The stock was acquired at an average cost of $12.97 per share, with a total value of $870,429.67. Following the transaction, the director owned 9,567,111 shares of the company’s stock, valued at approximately $124,085,429.67. This trade represents a 0.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

TXO Partners Stock Up 0.5%

TXO Partners stock opened at $14.02 on Friday. The stock has a fifty day moving average price of $14.22 and a 200 day moving average price of $13.22. TXO Partners LP has a 52 week low of $10.12 and a 52 week high of $15.58. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.45.

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

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be issued a $0.44 dividend. This is a positive change 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 yield of 12.6%. TXO Partners’s dividend payout ratio (DPR) is presently -111.89%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Energy Income Partners LLC raised its position in shares of TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after buying an additional 312,120 shares during the period. First Trust Advisors LP grew its position in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares during the period. Bank of America Corp DE grew its position in TXO Partners by 259.3% during the first quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after acquiring an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the second quarter valued at about $4,469,000. Finally, Sanders Morris Harris LLC purchased a new stake in TXO Partners during the third quarter valued at about $4,305,000. 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.