TXO Partners (NYSE:TXO) Raised to "Strong-Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded TXO Partners to “Strong Buy” from “Buy.” Analysts’ overall rating is “Buy,” with an average price target of $17.50 versus the stock’s recent $14.28 price.
• TXO Partners significantly exceeded quarterly expectations, reporting $1.07 in earnings per share versus the $0.11 consensus estimate and revenue of $150.87 million compared with expectations of $116.24 million.
• Insider and institutional activity has been supportive: insiders bought 400,000 shares worth about $5.64 million over the past 90 days, while institutional investors and hedge funds own 27.44% of the company.

TXO Partners (NYSE:TXO - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also weighed in on the company. Stifel Nicolaus assumed coverage on TXO Partners in a research report on Thursday, September 10th. They set a "buy" rating and a $17.00 target price on the stock. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research note on Friday, August 21st. Finally, Zacks Research raised shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, TXO Partners presently has an average rating of "Buy" and an average price target of $17.50.

TXO Partners Stock Performance

Shares of TXO stock opened at $14.28 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm has a fifty day moving average price of $14.13 and a 200 day moving average price of $13.21. The company has a market cap of $791.83 million, a P/E ratio of -18.55 and a beta of 0.06. TXO Partners has a 12 month low of $10.12 and a 12 month high of $15.58.

TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.11 by $0.96. The company had revenue of $150.87 million for the quarter, compared to analysts' expectations of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. Sell-side analysts predict that TXO Partners will post 0.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Bob Simpson purchased 125,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the completion of the acquisition, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders bought a total of 400,000 shares of company stock worth $5,638,250 over the last 90 days.

Institutional Trading of TXO Partners

Hedge funds have recently added to or reduced their stakes in the stock. ING Groep NV lifted its holdings in shares of TXO Partners by 24.8% during the fourth quarter. ING Groep NV now owns 504,000 shares of the company's stock worth $5,378,000 after purchasing an additional 100,000 shares during the period. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners in the 2nd quarter valued at $4,469,000. Energy Income Partners LLC increased its stake in TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company's stock valued at $18,229,000 after buying an additional 312,120 shares during the period. Hennessy Advisors Inc. acquired a new position in TXO Partners in the 2nd quarter valued at $488,000. Finally, Bank of America Corp DE raised its position in TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company's stock worth $4,715,000 after buying an additional 270,465 shares during the last quarter. 27.44% of the stock is owned by institutional investors and hedge funds.

About TXO Partners

TXO Partners, L.P. NYSE: TXO is an independent oil and natural gas company focused on acquiring, developing, exploiting and operating conventional energy properties in the United States. Its operations include the production of crude oil, natural gas and natural gas liquids from both operated and non-operated assets.

The company's asset base is concentrated primarily in the Permian Basin and the San Juan Basin, including properties in New Mexico and surrounding areas. TXO emphasizes mature, producing properties that can provide ongoing production and cash flow through development, optimization and operational improvements.

TXO Partners was established as a publicly traded limited partnership in the 2020s and is headquartered in Midland, Texas.

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