TXO Partners, L.P. Expected to Post Q1 2024 Earnings of $0.23 Per Share (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO - Free Report) - Analysts at Capital One Financial boosted their Q1 2024 earnings per share estimates for TXO Partners in a research report issued on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $0.23 per share for the quarter, up from their previous forecast of $0.21. The consensus estimate for TXO Partners' current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TXO Partners' Q2 2024 earnings at $0.35 EPS.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The business had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million.

Several other equities research analysts have also recently issued reports on TXO. Raymond James reduced their target price on TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating on the stock in a report on Wednesday, January 24th. Stifel Nicolaus reduced their target price on TXO Partners from $27.00 to $26.00 and set a "buy" rating on the stock in a report on Tuesday, January 23rd.

TXO Partners Price Performance

Shares of TXO stock traded down $0.04 during trading hours on Friday, hitting $18.27. The stock had a trading volume of 58,900 shares, compared to its average volume of 41,244. TXO Partners has a one year low of $17.20 and a one year high of $24.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The stock's 50-day moving average price is $18.06 and its two-hundred day moving average price is $18.30. The stock has a market capitalization of $561.80 million, a price-to-earnings ratio of -5.50 and a beta of -0.11.

Institutional Investors Weigh In On TXO Partners

Large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. bought a new position in shares of TXO Partners during the first quarter valued at approximately $1,542,000. HighTower Advisors LLC bought a new position in shares of TXO Partners during the first quarter valued at approximately $251,000. HRT Financial LP bought a new position in shares of TXO Partners during the first quarter valued at approximately $375,000. Stifel Financial Corp bought a new position in shares of TXO Partners during the first quarter valued at approximately $558,000. Finally, Nomura Holdings Inc. bought a new position in shares of TXO Partners during the first quarter valued at approximately $1,387,000. 27.44% of the stock is owned by institutional investors.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.58 per share. This is a boost from TXO Partners's previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a yield of 12.70%. The ex-dividend date of this dividend was Thursday, March 14th. TXO Partners's payout ratio is presently -69.88%.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.