TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Acquires 78,932 Shares

TXO Partners LP (NYSE:TXO) Director Bob Simpson acquired 78,932 shares of the company’s stock in a transaction that occurred on Monday, November 9th. The stock was bought at an average price of $13.15 per share, with a total value of $1,037,955.80. Following the transaction, the director directly owned 9,646,043 shares in the company, valued at $126,845,465.45. The trade was a 0.83% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

TXO Partners Trading Up 1.5%

NYSE:TXO opened at $13.94 on Thursday. The stock’s fifty day moving average price is $14.24 and its two-hundred day moving average price is $13.21. TXO Partners LP has a 52-week low of $10.12 and a 52-week high of $15.58. 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 (NYSE:TXO) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.79). The firm had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. On average, research analysts forecast that TXO Partners LP will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 12.6%. This is a boost from TXO Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 13th. TXO Partners’s payout ratio is currently -111.89%.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of TXO. Energy Income Partners LLC grew its holdings in TXO Partners by 27.5% during the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock worth $18,229,000 after acquiring an additional 312,120 shares during the period. First Trust Advisors LP lifted its stake in shares of TXO Partners by 2.1% in 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 boosted its position in shares of TXO Partners by 259.3% in the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after purchasing an additional 270,465 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the 2nd quarter worth $4,469,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of TXO Partners during the third quarter worth $4,305,000. 27.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

TXO Partners Company Profile

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.