TXO Partners LP $TXO Shares Sold by CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT

Key Points

• Cushing Asset Management reduced its TXO Partners stake by 37.5%, selling 199,000 shares and retaining 332,000 shares worth approximately $4.54 million. Institutional investors collectively own 27.44% of the company.
• TXO Partners reported quarterly EPS of $1.07, far exceeding the $0.11 analyst consensus, while revenue of $150.87 million also surpassed estimates. The company raised its quarterly dividend to $0.40, implying a 11.2% annualized yield.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $19 price target versus the stock’s $14.27 price; insiders also purchased 400,000 shares over the past 90 days.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its position in TXO Partners LP (NYSE:TXO - Free Report) by 37.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,000 shares of the company's stock after selling 199,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned 0.60% of TXO Partners worth $4,538,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Deroy & Devereaux Private Investment Counsel Inc. boosted its holdings in TXO Partners by 6.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company's stock valued at $3,609,000 after acquiring an additional 17,000 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of 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 buying an additional 716 shares during the period. CWA Asset Management Group LLC increased its holdings in shares of TXO Partners by 7.5% during the third 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 in the last quarter. Sanders Morris Harris LLC bought a new position in shares of TXO Partners in the third quarter valued at $4,305,000. Finally, Hennessy Advisors Inc. bought a new position in TXO Partners in the 2nd quarter valued at about $488,000. 27.44% of the stock is owned by institutional investors.

TXO Partners Stock Up 0.6%

NYSE TXO opened at $14.27 on Tuesday. TXO Partners LP has a one year low of $10.12 and a one year high of $15.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The stock has a 50 day moving average price of $14.37 and a 200-day moving average price of $13.02. The company has a market capitalization of $791.44 million, a P/E ratio of -18.54 and a beta of 0.08.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.11 by $0.96. The business had revenue of $150.87 million for 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, equities analysts predict that TXO Partners LP will post 0.60 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a $0.40 dividend. This is a boost from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a yield of 11.2%. The ex-dividend date was Friday, August 14th. TXO Partners's dividend payout ratio is -207.79%.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of the company's stock in a transaction on 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 completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 400,000 shares of company stock valued at $5,638,250 in the last ninety days.

Analyst Ratings Changes

A number of research firms have issued reports on TXO. Stifel Nicolaus started coverage on shares of TXO Partners in a report on Thursday, September 10th. They set a "buy" rating and a $17.00 price objective on the stock. 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 target price for the company. Weiss Ratings downgraded TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, October 8th. Zacks Research upgraded TXO Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. Finally, Wall Street Zen raised shares of TXO Partners from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 26th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, TXO Partners presently has a consensus rating of "Buy" and a consensus price target of $19.00.

TXO Partners Company Profile

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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