TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Purchases 33,570 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 33,570 shares of the company’s stock in a transaction dated Thursday, November 12th. The shares were bought at an average cost of $14.28 per share, with a total value of $479,379.60. Following the purchase, the director owned 9,800,000 shares of the company’s stock, valued at approximately $139,944,000. This trade represents a 0.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

TXO Partners Trading Down 4.7%

Shares of TXO Partners stock traded down $0.66 during trading on Friday, reaching $13.35. 359,993 shares of the stock were exchanged, compared to its average volume of 186,609. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The firm has a market cap of $740.04 million, a price-to-earnings ratio of -9.33 and a beta of 0.07. TXO Partners LP has a 1 year low of $10.12 and a 1 year high of $15.58. The stock’s fifty day moving average is $14.22 and its 200 day moving average is $13.22.

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 the consensus estimate 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 company had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. As a group, equities research analysts expect that TXO Partners LP will post 0.65 earnings per share for the current fiscal year.

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 paid a dividend of $0.44 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date of this dividend is Friday, November 13th. TXO Partners’s payout ratio is -111.89%.

Institutional Trading of TXO Partners

Hedge funds have recently bought and sold shares of the company. Energy Income Partners LLC lifted its holdings in TXO Partners by 27.5% in the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after acquiring an additional 312,120 shares during the period. First Trust Advisors LP grew its stake in shares of TXO Partners by 2.1% during the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after purchasing an additional 10,877 shares during the period. Bank of America Corp DE grew its stake in shares of TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after purchasing an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in shares of TXO Partners during the 2nd quarter valued at about $4,469,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of TXO Partners during the 3rd quarter valued at about $4,305,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus assumed coverage on TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 price target for the company. 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 downgraded shares of TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a research report on Tuesday. Wall Street Zen downgraded shares of TXO Partners from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 7th. Finally, Stephens initiated coverage on shares of TXO Partners in a report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, TXO Partners currently has a consensus rating of “Buy” and a consensus target price of $19.00.

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.