Capital One Financial Analysts Cut Earnings Estimates for TXO Partners, L.P. (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO - Free Report) - Investment analysts at Capital One Financial lowered their Q2 2024 EPS estimates for TXO Partners in a note issued to investors on Wednesday, May 8th. Capital One Financial analyst P. Johnston now expects that the company will earn $0.32 per share for the quarter, down from their prior forecast of $0.35. The consensus estimate for TXO Partners' current full-year earnings is $1.34 per share. Capital One Financial also issued estimates for TXO Partners' Q3 2024 earnings at $0.36 EPS, Q4 2024 earnings at $0.35 EPS, FY2024 earnings at $1.36 EPS and FY2025 earnings at $1.85 EPS.

A number of other brokerages have also issued reports on TXO. Raymond James dropped their price objective on shares of TXO Partners from $30.00 to $26.00 and set a "strong-buy" rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus lowered their target price on shares of TXO Partners from $27.00 to $26.00 and set a "buy" rating for the company in a research note on Tuesday, January 23rd.

TXO Partners Trading Up 4.0 %

Shares of TXO traded up $0.80 during mid-day trading on Friday, reaching $20.65. The stock had a trading volume of 91,000 shares, compared to its average volume of 43,541. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. TXO Partners has a 52-week low of $17.20 and a 52-week high of $23.57. The business's fifty day moving average is $18.47 and its 200 day moving average is $18.20. The firm has a market cap of $634.99 million, a price-to-earnings ratio of -6.22 and a beta of -0.18.

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

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 12.59%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from TXO Partners's previous quarterly dividend of $0.58. TXO Partners's dividend payout ratio (DPR) is -69.88%.

Insiders Place Their Bets

In other news, major shareholder Global Endowment Management, L sold 41,978 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares of the company's stock, valued at $19,650,320.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders sold a total of 117,878 shares of company stock valued at $2,149,284 over the last 90 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of TXO Partners by 35.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company's stock valued at $1,282,000 after purchasing an additional 18,755 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in TXO Partners in the fourth quarter valued at approximately $4,346,000. Brown Brothers Harriman & Co. acquired a new stake in TXO Partners in the fourth quarter valued at approximately $183,000. Hsbc Holdings PLC acquired a new stake in TXO Partners in the fourth quarter valued at approximately $2,685,000. Finally, King Luther Capital Management Corp raised its holdings in TXO Partners by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company's stock valued at $47,114,000 after acquiring an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company's stock.

About TXO Partners

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.