TXO Partners LP (NYSE:TXO) Receives Average Rating of "Buy" from Brokerages

Key Points

• TXO Partners has a consensus “Buy” rating from five analysts, with two “Buy,” two “Strong Buy,” and one “Sell” recommendation. The average 12-month price target is $17.50 versus a recent share price of $13.89.
• Director Bob Simpson purchased 125,000 shares for approximately $1.79 million, while insiders bought 400,000 shares worth $5.64 million over the past quarter. Institutional investors own 27.44% of the company.
• TXO reported quarterly revenue of $150.87 million and adjusted earnings of $1.07 per share, exceeding analyst estimates. The company also raised its quarterly dividend to $0.40 per share, implying an annualized yield of about 11.5%.

Shares of TXO Partners LP (NYSE:TXO - Get Free Report) have been given a consensus rating of "Buy" by the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $17.50.

TXO has been the topic of a number of research analyst reports. Stifel Nicolaus assumed coverage on TXO Partners in a report on Thursday, September 10th. They set a "buy" rating and a $17.00 target price on the stock. Weiss Ratings raised shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a report on Friday, August 21st. Stephens started coverage on TXO Partners in a report on Wednesday. They issued an "overweight" rating on the stock. Wall Street Zen raised shares of TXO Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 26th. Finally, Zacks Research raised shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd.

Insider Activity

In other news, Director Bob Simpson bought 125,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the transaction, the director owned 9,500,000 shares of the company's stock, valued at approximately $136,040,000. This represents a 1.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 400,000 shares of company stock valued at $5,638,250 over the last quarter.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently bought and sold shares of TXO. Allied Private Wealth LLC bought a new stake in shares of TXO Partners in the 2nd quarter worth about $30,000. Fund Advisors of America Inc FL bought a new stake in TXO Partners during the fourth quarter worth approximately $115,000. Alpine Global Management LLC purchased a new stake in TXO Partners during the fourth quarter valued at approximately $182,000. Waterway Wealth Management LLC purchased a new stake in TXO Partners during the fourth quarter valued at approximately $213,000. Finally, Hennessy Advisors Inc. bought a new stake in shares of TXO Partners in the 2nd quarter valued at approximately $488,000. Institutional investors own 27.44% of the company's stock.

TXO Partners Trading Down 0.5%

Shares of NYSE:TXO traded down $0.07 during trading on Wednesday, reaching $13.89. 77,415 shares of the company traded hands, compared to its average volume of 192,161. The business's fifty day moving average is $14.26 and its 200-day moving average is $13.29. TXO Partners has a 52-week low of $10.12 and a 52-week high of $15.58. The firm has a market capitalization of $770.20 million, a price-to-earnings ratio of -18.04 and a beta of 0.08. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The firm had revenue of $150.87 million for the quarter, compared to analyst estimates of $116.24 million. As a group, analysts forecast that TXO Partners will post 0.58 EPS for the current year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 14th. This is a positive change from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 11.5%. TXO Partners's dividend payout ratio is -207.79%.

About TXO Partners

TXO Partners, L.P. NYSE: TXO is an independent oil and natural gas company focused on acquiring, developing, and operating producing properties in the United States. The company emphasizes oil-weighted assets and seeks to generate production from mature properties through development, workovers, operational improvements, and enhanced recovery activities.

TXO Partners' operations are concentrated in the Permian Basin, including producing assets in parts of Texas and New Mexico. Its portfolio includes conventional and unconventional oil and natural gas properties, with associated natural gas liquids and other hydrocarbons produced alongside crude oil and natural gas.

The company was formed as a publicly traded master limited partnership and began trading on the New York Stock Exchange in 2022.

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