TXO Partners (NYSE:TXO) Director Bob Simpson Buys 67,111 Shares of Stock

Key Points

• Director Bob Simpson purchased 67,111 TXO shares at an average $12.97 each, spending about $870,430 and increasing his stake to 9,567,111 shares.
• TXO reported a quarterly loss of $0.58 per share, missing the $0.21 consensus estimate; revenue of $55.09 million also came in below the $102.05 million forecast.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to a 12.8% annualized yield. Analysts’ consensus rating was “Buy,” with a $19 average price target.

TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson bought 67,111 shares of the stock in a transaction on Friday, November 6th. The stock was purchased at an average cost of $12.97 per share, with a total value of $870,429.67. Following the acquisition, the director owned 9,567,111 shares in the company, valued at approximately $124,085,429.67. This represents a 0.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

TXO Partners Trading Up 4.3%

TXO Partners stock traded up $0.56 during trading hours on Tuesday, hitting $13.73. The stock had a trading volume of 259,734 shares, compared to its average volume of 184,788. The company has a quick ratio of 1.05, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. The stock has a market cap of $761.38 million, a price-to-earnings ratio of -9.60 and a beta of 0.07. TXO Partners LP has a one year low of $10.12 and a one year high of $15.58. The business's 50 day simple moving average is $14.28 and its 200-day simple moving average is $13.18.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.79). The firm had revenue of $55.09 million for 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%. On average, equities analysts predict that TXO Partners LP will post 0.65 EPS for the current fiscal year.

TXO Partners Increases Dividend

The firm 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. The ex-dividend date of this dividend is Friday, November 13th. This is an increase from TXO Partners's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 12.8%. TXO Partners's payout ratio is -111.89%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Allied Private Wealth LLC acquired a new position in shares of TXO Partners in the 2nd quarter worth approximately $30,000. Simplex Trading LLC bought a new stake in shares of TXO Partners in the 3rd quarter valued at $67,000. Virtus Advisers LLC boosted its stake in shares of TXO Partners by 93.6% in the 3rd quarter. Virtus Advisers LLC now owns 10,035 shares of the company's stock valued at $137,000 after purchasing an additional 4,851 shares during the last quarter. Apollon Wealth Management LLC boosted 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 purchasing an additional 716 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of TXO Partners during the third quarter worth $217,000. Institutional investors own 27.44% of the company's stock.

Analysts Set New Price Targets

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

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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