TXO Partners LP (NYSE:TXO) Stock Short Interest Falls 44.5%

Key Points

• Short interest in TXO Partners fell 44.5% to 418,689 shares as of October 15, representing about 0.8% of shares outstanding and a 4.0-day short-interest ratio.
• Analysts have a consensus “Buy” rating with an average price target of $19.00; Stephens initiated coverage with an “overweight” rating and a $22 target.
• TXO increased its quarterly dividend to $0.40 per share, or $1.60 annually, implying an approximate 11.4% yield; insiders also purchased 400,000 shares over the past three months.

TXO Partners LP (NYSE:TXO - Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 15th, there was short interest totaling 418,689 shares, a decrease of 44.5% from the September 30th total of 754,887 shares. Approximately 0.8% of the company's shares are short sold. Based on an average daily volume of 105,670 shares, the short-interest ratio is presently 4.0 days.

Wall Street Analyst Weigh In

TXO has been the subject of a number of research analyst reports. Stephens assumed coverage on TXO Partners in a research note on Wednesday, October 7th. They issued an "overweight" rating and a $22.00 price target for the company. Zacks Research upgraded shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 3rd. Wall Street Zen raised shares of TXO Partners from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 26th. Weiss Ratings raised shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Finally, Stifel Nicolaus initiated coverage on shares of TXO Partners in a research note on Thursday, September 10th. They set a "buy" rating and a $17.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, TXO Partners currently has a consensus rating of "Buy" and an average target price of $19.00.

Insider Buying and Selling

In other TXO Partners news, Director Bob Simpson acquired 125,000 shares of the company's stock in a transaction on Thursday, August 13th. The stock was acquired at an average price of $14.32 per share, for a total transaction of $1,790,000.00. Following the acquisition, the director owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders purchased 400,000 shares of company stock worth $5,638,250.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently bought and sold shares of TXO. Chicago Partners Investment Group LLC bought a new position in TXO Partners during the 3rd quarter valued at approximately $217,000. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in TXO Partners by 6.9% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company's stock valued at $3,609,000 after buying an additional 17,000 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in TXO Partners by 5.8% in the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company's stock worth $179,000 after acquiring an additional 716 shares in the last quarter. CWA Asset Management Group LLC boosted its holdings in TXO Partners by 7.5% in the third quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company's stock worth $250,000 after acquiring an additional 1,272 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new stake in TXO Partners in the third quarter worth $4,305,000. Institutional investors own 27.44% of the company's stock.

TXO Partners Stock Down 0.5%

TXO stock traded down $0.07 during midday trading on Friday, hitting $14.05. The stock had a trading volume of 135,099 shares, compared to its average volume of 91,226. The firm has a market cap of $779.35 million, a price-to-earnings ratio of -18.25 and a beta of 0.08. The business has a 50-day moving average of $14.40 and a two-hundred day moving average of $13.11. TXO Partners has a 52-week low of $10.12 and a 52-week high of $15.58. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.11 by $0.96. The business had revenue of $150.87 million during the quarter, compared to analyst estimates of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. As a group, equities research analysts forecast that TXO Partners will post 0.60 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $0.40 per share. This is an increase from TXO Partners's previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 11.4%. TXO Partners's dividend payout ratio is -207.79%.

About TXO Partners

TXO Partners, L.P. NYSE: TXO is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company's operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.