TXO Partners LP (NYSE:TXO) Stock Now Rated "Buy" by Wall Street Analysts

Key Points

• Analysts rate TXO Partners “Buy” overall: Five analysts give the stock an average 12-month price target of $19.00, compared with its reported opening price of $14.05.
• The company reported a strong quarterly earnings beat: TXO posted $1.07 in EPS versus the $0.11 consensus estimate and generated $150.87 million in revenue, above the $116.24 million forecast.
• TXO increased its quarterly dividend to $0.40 per share, representing a $1.60 annualized payout and an approximately 11.4% yield. Director Bob Simpson also bought 125,000 shares, while insiders purchased 400,000 shares over the prior 90 days.

TXO Partners LP (NYSE:TXO - Get Free Report) has been given an average rating of "Buy" by the five analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $19.00.

Several brokerages recently issued reports on TXO. 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. Stephens initiated coverage on TXO Partners in a research note on Wednesday, October 7th. They set an "overweight" rating and a $22.00 price objective for the company. Zacks Research raised TXO Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. Weiss Ratings raised TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, October 26th. Finally, Wall Street Zen upgraded TXO Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th.

TXO Partners Stock Performance

Shares of NYSE TXO opened at $14.05 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. The firm's 50-day moving average price is $14.40 and its two-hundred day moving average price is $13.11. TXO Partners has a 52-week low of $10.12 and a 52-week high of $15.58. The stock has a market capitalization of $779.35 million, a P/E ratio of -18.25 and a beta of 0.08.

TXO Partners (NYSE:TXO - Get Free Report) last issued its earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.96. The company had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. As a group, sell-side analysts forecast that TXO Partners will post 0.60 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. This is an increase from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 11.4%. The ex-dividend date was Friday, August 14th. TXO Partners's payout ratio is currently -207.79%.

Insider Buying and Selling at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the transaction, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. This trade represents a 1.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders have bought 400,000 shares of company stock valued at $5,638,250.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TXO. Allied Private Wealth LLC acquired a new position in shares of TXO Partners during the second quarter worth approximately $30,000. Apollon Wealth Management LLC increased its position in TXO Partners by 5.8% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company's stock valued at $179,000 after acquiring an additional 716 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in TXO Partners in the 3rd quarter valued at approximately $217,000. CWA Asset Management Group LLC increased its position in TXO Partners by 7.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company's stock valued at $250,000 after acquiring an additional 1,272 shares during the period. Finally, Hennessy Advisors Inc. bought a new stake in TXO Partners during the 2nd quarter valued at $488,000. 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 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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