TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Acquires 33,570 Shares

Key Points

• Director Bob Simpson bought 33,570 TXO Partners shares at $14.28 each, spending about $479,380; his direct stake rose to 9.8 million shares.
• TXO shares fell 4.7% to $13.35 in Friday trading. The company also missed quarterly estimates, reporting an $0.58 loss per share and $55.09 million in revenue versus analysts’ estimates of $0.21 EPS and $102.05 million in revenue.
• TXO raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to $1.76 annually and a stated 13.2% yield.

TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson purchased 33,570 shares of the company's stock in a transaction dated Thursday, November 12th. The shares were acquired at an average cost of $14.28 per share, with a total value of $479,379.60. Following the purchase, the director directly owned 9,800,000 shares of the company's stock, valued at approximately $139,944,000. The trade was a 0.34% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

TXO Partners Trading Down 4.7%

NYSE TXO traded down $0.66 during trading hours on Friday, hitting $13.35. 359,993 shares of the company's stock were exchanged, compared to its average volume of 186,609. The firm has a market cap of $740.04 million, a price-to-earnings ratio of -9.33 and a beta of 0.07. The stock has a 50-day simple moving average of $14.22 and a 200 day simple moving average of $13.22. The company has a current ratio of 0.63, a quick 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.

TXO Partners (NYSE:TXO - Get Free Report) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.79). The firm had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. On average, equities analysts forecast 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. Investors of record on Friday, November 13th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, November 13th. This is a positive change from TXO Partners's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 13.2%. TXO Partners's dividend payout ratio (DPR) is -111.89%.

Institutional Trading of TXO Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. Energy Income Partners LLC grew its position in TXO Partners by 27.5% during the first quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company's stock valued at $18,229,000 after acquiring an additional 312,120 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company's stock worth $6,511,000 after acquiring an additional 10,877 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of TXO Partners by 259.3% in the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company's stock valued at $4,715,000 after purchasing an additional 270,465 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in shares of TXO Partners in the 2nd quarter valued at $4,469,000. Finally, Sanders Morris Harris LLC purchased a new stake in shares of TXO Partners in the 3rd quarter valued at $4,305,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings lowered shares of TXO Partners from a "sell (d+)" rating to a "sell (d)" rating in a research report on Tuesday. 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. Wall Street Zen lowered shares of TXO Partners from a "strong-buy" rating to a "hold" rating in a research note on Saturday, November 7th. Stifel Nicolaus began coverage on shares of TXO Partners in a report on Thursday, September 10th. They issued a "buy" rating and a $17.00 price target on the stock. Finally, Zacks Research raised shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Two research 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 company presently has an average rating of "Buy" and a consensus target price of $19.00.

About TXO Partners

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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