TXO Partners (NYSE:TXO) Announces Quarterly Earnings Results, Misses Expectations By $0.80 EPS

Key Points

• TXO Partners reported a sharp quarterly earnings miss, posting a loss of $0.58 per share versus analysts’ expected $0.22 profit. Revenue was $55.09 million, well below the $102.05 million consensus estimate.
• The company recorded a negative net margin of 9.23% and negative return on equity of 5.59%; its shares traded at $13.60 following the results.
• Director Bob Simpson bought 125,000 shares for $1.79 million, and insiders purchased 400,000 shares over the past 90 days. Analysts’ consensus rating is “Buy,” with an average price target of $19.

TXO Partners (NYSE:TXO - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.80), FiscalAI reports. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The firm had revenue of $55.09 million for the quarter, compared to analyst estimates of $102.05 million.

TXO Partners Price Performance

TXO Partners stock traded down $0.01 during trading hours on Tuesday, hitting $13.60. 110,722 shares of the company traded hands, compared to its average volume of 183,341. The firm has a market cap of $754.06 million, a P/E ratio of -17.66 and a beta of 0.08. 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 simple moving average is $14.39 and its two-hundred day simple moving average is $13.13. TXO Partners has a 1-year low of $10.12 and a 1-year high of $15.58.

Insider Buying and Selling at TXO Partners

In related news, Director Bob Simpson purchased 125,000 shares of TXO Partners stock in a transaction dated Thursday, August 13th. The stock was bought at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the purchase, the director owned 9,500,000 shares in the company, valued at approximately $136,040,000. The trade was a 1.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have purchased 400,000 shares of company stock valued at $5,638,250.

Analysts Set New Price Targets

TXO has been the topic of several analyst reports. Wall Street Zen upgraded shares of TXO Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Weiss Ratings upgraded TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday, October 26th. Zacks Research raised TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Stephens assumed coverage on TXO Partners in a research report on Wednesday, October 7th. They issued an "overweight" rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on TXO Partners in a research report on Thursday, September 10th. They issued a "buy" rating and a $17.00 target price on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $19.00.

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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