TXO Partners (NYSE:TXO) Stock: Insider Bob Simpson Purchases 86,796 Shares

Key Points

• Director Bob Simpson bought 86,796 TXO shares at an average price of $13.49, spending about $1.17 million and increasing his direct stake by 0.90% to 9.73 million shares.
• TXO reported a quarterly loss of $0.58 per share, missing analyst expectations of $0.21 EPS; revenue of $55.09 million also fell short of the $102.05 million consensus.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to $1.76 annually and a stated 12.8% yield. Shares rose 4.3% on the day described.

TXO Partners LP (NYSE:TXO - Get Free Report) Director Bob Simpson acquired 86,796 shares of TXO Partners stock in a transaction dated Tuesday, November 10th. The stock was purchased at an average price of $13.49 per share, for a total transaction of $1,170,878.04. Following the completion of the acquisition, the director directly owned 9,732,839 shares in the company, valued at approximately $131,295,998.11. This represents a 0.90% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

TXO Partners Stock Up 4.3%

Shares of TXO stock traded up $0.56 on Tuesday, reaching $13.73. 259,734 shares of the stock were exchanged, compared to its average volume of 184,788. The company has a current ratio of 0.63, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The business's 50 day moving average price is $14.28 and its 200 day moving average price is $13.18. The company has a market capitalization of $761.38 million, a price-to-earnings ratio of -9.60 and a beta of 0.07. TXO Partners LP has a twelve month low of $10.12 and a twelve month high of $15.58.

TXO Partners (NYSE:TXO - Get Free Report) last posted its earnings results on Tuesday, November 3rd. The company reported ($0.58) EPS for the quarter, missing the consensus estimate of $0.21 by ($0.79). The business had revenue of $55.09 million during the quarter, compared to analysts' expectations 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 expect that TXO Partners LP will post 0.65 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 13th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 12.8%. The ex-dividend date is Friday, November 13th. This is an increase from TXO Partners's previous quarterly dividend of $0.40. TXO Partners's dividend payout ratio (DPR) is currently -111.89%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted 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 buying an additional 4,603 shares during the last quarter. Virtus Advisers LLC increased its holdings 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 acquiring an additional 4,851 shares during the period. Simplex Trading LLC acquired a new position in shares of TXO Partners in the 3rd quarter valued at $67,000. Arrow Investment Advisors LLC increased its holdings in shares of TXO Partners by 14.0% in the 3rd quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company's stock valued at $264,000 after acquiring an additional 2,374 shares during the period. Finally, Chicago Partners Investment Group LLC purchased a new stake in TXO Partners in the 3rd quarter valued at $217,000. Hedge funds and other institutional investors own 27.44% of the company's stock.

Wall Street Analyst Weigh In

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