Sanders Morris Harris LLC Makes New $4.30 Million Investment in TXO Partners LP $TXO

Key Points

• Sanders Morris Harris LLC acquired 309,790 shares of TXO Partners in the third quarter, representing an investment of approximately $4.3 million and a 0.56% stake. Institutional investors collectively own 27.44% of the company.
• Analyst sentiment is generally positive, with TXO carrying an average “Buy” rating and a consensus price target of $19.00, although one analyst maintained a sell rating.
• TXO shares recently fell 2.3% to $14.23, while the company increased its quarterly dividend to $0.40 per share, implying a 11.2% annualized yield. The company also reported quarterly revenue and adjusted earnings well above analyst expectations.

Sanders Morris Harris LLC purchased a new position in TXO Partners LP (NYSE:TXO - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 309,790 shares of the company's stock, valued at approximately $4,305,000. Sanders Morris Harris LLC owned about 0.56% of TXO Partners as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Energy Income Partners LLC increased its holdings in TXO Partners by 27.5% in the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company's stock valued at $18,229,000 after purchasing an additional 312,120 shares during the last quarter. First Trust Advisors LP boosted its holdings in TXO Partners by 2.1% during the first quarter. First Trust Advisors LP now owns 517,597 shares of the company's stock worth $6,511,000 after buying an additional 10,877 shares during the last quarter. Bank of America Corp DE grew its position in shares of 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 period. Pin Oak Investment Advisors Inc. acquired a new position in shares of TXO Partners during the 2nd quarter worth about $4,469,000. Finally, Glenmede Trust Co. NA increased its stake in shares of TXO Partners by 33.1% in the 1st quarter. Glenmede Trust Co. NA now owns 104,447 shares of the company's stock valued at $1,314,000 after acquiring an additional 26,000 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on TXO shares. Wall Street Zen upgraded shares of TXO Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 26th. Weiss Ratings lowered shares of TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a report on Thursday, October 8th. Zacks Research raised shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Stephens began coverage on shares of TXO Partners in a research report on Wednesday, October 7th. They issued an "overweight" rating and a $22.00 price objective for the company. Finally, Stifel Nicolaus initiated coverage on TXO Partners in a research note on Thursday, September 10th. They set a "buy" rating and a $17.00 price objective on the stock. Two equities 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $19.00.

TXO Partners Stock Down 2.3%

Shares of NYSE:TXO traded down $0.34 during trading on Wednesday, hitting $14.23. 95,059 shares of the company's stock traded hands, compared to its average volume of 190,179. 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 company has a 50-day moving average price of $14.37 and a 200-day moving average price of $13.35. TXO Partners LP has a 52 week low of $10.12 and a 52 week high of $15.58. The company has a market cap of $789.33 million, a price-to-earnings ratio of -18.49 and a beta of 0.08.

TXO Partners (NYSE:TXO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.11 by $0.96. The business had revenue of $150.87 million during 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%. As a group, research analysts forecast that TXO Partners LP will post 0.58 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed 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 a positive change from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 11.2%. The ex-dividend date of this dividend was Friday, August 14th. TXO Partners's payout ratio is currently -207.79%.

Insider Activity

In related news, Director Bob Simpson acquired 125,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were acquired at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the acquisition, the director directly 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders have acquired a total of 400,000 shares of company stock worth $5,638,250 over the last ninety days.

TXO Partners Profile

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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