TXO Partners (NYSE:TXO) Rating Lowered to Hold at Wall Street Zen

Key Points

• Wall Street Zen downgraded TXO Partners from Strong Buy to Hold, though MarketBeat’s consensus rating remains Buy, with an average price target of $19.
• TXO missed quarterly expectations, reporting a loss of $0.58 per share versus an expected $0.21 profit, and revenue of $55.09 million versus a $102.05 million estimate.
• Insiders bought 300,000 shares worth about $4.3 million over the past three months; shares were recently reported up 3.6%.

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

Several other research analysts also recently issued reports on TXO. Stephens started coverage on shares of TXO Partners in a research report on Wednesday, October 7th. They set an "overweight" rating and a $22.00 price target on the stock. Stifel Nicolaus assumed coverage on shares of TXO Partners in a report on Thursday, September 10th. They set a "buy" rating and a $17.00 target price for the company. Weiss Ratings raised shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research note on Monday, October 26th. Finally, Zacks Research raised TXO Partners from a "hold" rating to a "strong-buy" rating in a 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 issued a Sell rating to the stock. Based on data from MarketBeat, TXO Partners presently has an average rating of "Buy" and an average price target of $19.00.

TXO Partners Stock Up 3.6%

Shares of TXO stock opened at $13.14 on Friday. The business's fifty day moving average is $14.30 and its 200 day moving average is $13.17. TXO Partners has a twelve month low of $10.12 and a twelve month high of $15.58. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.79). TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. The firm had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. As a group, sell-side analysts predict that TXO Partners will post 0.65 EPS for the current fiscal year.

Insider Activity at TXO Partners

In other TXO Partners news, Director Bob Simpson purchased 125,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost 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 of the company's stock, valued at $136,040,000. This represents a 1.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 300,000 shares of company stock worth $4,286,250 over the last three months.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in TXO. Energy Income Partners LLC raised its stake in TXO Partners by 27.5% during the first 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 last quarter. First Trust Advisors LP boosted its holdings 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 buying an additional 10,877 shares in the last quarter. Bank of America Corp DE grew its holdings 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 acquiring an additional 270,465 shares during the period. Pin Oak Investment Advisors Inc. acquired a new position in TXO Partners during the second quarter valued at approximately $4,469,000. Finally, Sanders Morris Harris LLC acquired a new stake in TXO Partners during the third quarter worth about $4,305,000. Hedge funds and other institutional investors own 27.44% of the company's stock.

About TXO Partners

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.

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