TXO Partners (NYSE:TXO) Director Bob Simpson Purchases 78,932 Shares of Company Stock

Key Points

• Director Bob Simpson bought 78,932 TXO Partners shares at an average of $13.15 each, spending about $1.04 million. His holdings rose 0.83% to 9.65 million shares.
• TXO raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to an annualized yield of 12.8% at the price cited in the article.
• The company reported a quarterly loss of $0.58 per share and $55.09 million in revenue, both below analyst expectations of $0.21 earnings per share and $102.05 million in revenue.

TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson purchased 78,932 shares of TXO Partners stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $13.15 per share, with a total value of $1,037,955.80. Following the transaction, the director owned 9,646,043 shares of the company's stock, valued at $126,845,465.45. This trade represents a 0.83% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

TXO Partners Stock Performance

NYSE TXO traded up $0.56 during trading hours on Tuesday, reaching $13.73. 259,734 shares of the company were exchanged, compared to its average volume of 184,788. The stock has a market capitalization of $761.38 million, a P/E ratio of -9.60 and a beta of 0.07. The company has a quick ratio of 1.05, a current ratio of 0.63 and a debt-to-equity ratio of 0.45. TXO Partners LP has a 1 year low of $10.12 and a 1 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 released its earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.79). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The company had revenue of $55.09 million during the quarter, compared to analysts' expectations of $102.05 million. On average, equities research analysts expect that TXO Partners LP will post 0.65 earnings per share for the current year.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be issued a $0.44 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 12.8%. TXO Partners's payout ratio is presently -111.89%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. HighTower Advisors LLC boosted its holdings in shares of TXO Partners by 41.2% in the third quarter. HighTower Advisors LLC now owns 15,773 shares of the company's stock worth $216,000 after acquiring an additional 4,603 shares during the period. Virtus Advisers LLC lifted its holdings in TXO Partners by 93.6% during the 3rd quarter. Virtus Advisers LLC now owns 10,035 shares of the company's stock worth $137,000 after purchasing an additional 4,851 shares in the last quarter. Simplex Trading LLC purchased a new stake in TXO Partners during the 3rd quarter worth about $67,000. Arrow Investment Advisors LLC boosted its stake in TXO Partners by 14.0% in the 3rd quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company's stock worth $264,000 after purchasing an additional 2,374 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in TXO Partners in the 3rd quarter worth about $217,000. Institutional investors own 27.44% of the company's stock.

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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