Insider Buying: TXO Partners (NYSE:TXO) Director Buys $465,907.17 in Stock

Key Points

• Director Bob Simpson bought 33,591 TXO Partners shares for about $466,000 at $13.87 each, increasing his direct stake by 0.35% to approximately 9.77 million shares.
• TXO Partners reported a quarterly loss of $0.58 per share, missing the $0.21 consensus estimate, while revenue of $55.09 million also came in below analyst expectations of $102.05 million.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to a 13.2% annualized yield at the article’s cited share price.

TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson purchased 33,591 shares of TXO Partners stock in a transaction dated Wednesday, November 11th. The stock was acquired at an average cost of $13.87 per share, with a total value of $465,907.17. Following the completion of the acquisition, the director directly owned 9,766,430 shares in the company, valued at approximately $135,460,384.10. This trade represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

TXO Partners Price Performance

Shares of TXO Partners stock traded down $0.66 during trading on Friday, reaching $13.35. The company's stock had a trading volume of 359,993 shares, compared to its average volume of 186,609. The business has a 50 day moving average price of $14.22 and a 200-day moving average price of $13.22. TXO Partners LP has a 12-month low of $10.12 and a 12-month high of $15.58. The company has a market capitalization of $740.04 million, a P/E ratio of -9.33 and a beta of 0.07. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.45.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.79). The company had revenue of $55.09 million during the quarter, compared to analyst estimates of $102.05 million. TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. As a group, sell-side analysts anticipate that TXO Partners LP will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.44 per share. This is a positive change from TXO Partners's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.76 annualized dividend and a dividend yield of 13.2%. TXO Partners's dividend payout ratio is presently -111.89%.

Analyst Ratings Changes

A number of research firms recently weighed in on TXO. Stephens initiated coverage on TXO Partners in a report on Wednesday, October 7th. They issued an "overweight" rating and a $22.00 price target on the stock. Weiss Ratings cut TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a report on Tuesday. Zacks Research upgraded TXO Partners from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 3rd. 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 target for the company. Finally, Wall Street Zen downgraded TXO Partners from a "strong-buy" rating to a "hold" rating in a research note on Saturday, November 7th. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, TXO Partners has an average rating of "Buy" and a consensus target price of $19.00.

Institutional Trading of TXO Partners

Several large investors have recently modified their holdings of TXO. Apollon Wealth Management LLC boosted its holdings in shares of TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company's stock worth $179,000 after purchasing an additional 716 shares during the last quarter. CWA Asset Management Group LLC grew its position in shares of TXO Partners by 7.5% in the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company's stock valued at $250,000 after purchasing an additional 1,272 shares during the period. Allied Private Wealth LLC purchased a new stake in shares of TXO Partners in the second quarter valued at $30,000. Arrow Investment Advisors LLC increased its stake in TXO Partners by 14.0% in the third quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company's stock valued at $264,000 after purchasing an additional 2,374 shares during the last quarter. Finally, HighTower Advisors LLC increased its stake in TXO Partners by 41.2% in the third quarter. HighTower Advisors LLC now owns 15,773 shares of the company's stock valued at $216,000 after purchasing an additional 4,603 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Company Profile

TXO Partners, L.P. is an independent oil and gas company focused on acquiring, developing, optimizing and producing conventional oil, natural gas and natural gas liquids reserves in North America. Its operations include properties in the Permian, San Juan and Williston basins. The company's activities include operating and enhancing existing wells and developing its oil and gas properties. Its production includes crude oil, natural gas and natural gas liquids. TXO Partners was formed in 2022 and became publicly traded in 2023.

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