TXO Partners (NYSE:TXO) Reaches New 12-Month High - Here's What Happened

Key Points

• TXO Partners reached a new 52-week high of $15.27, trading about 1.5% higher, while its average analyst rating stood at “Buy” with an $18.50 price target.
• The company reported strong quarterly results, earning $1.07 per share versus the $0.11 consensus estimate and generating $150.87 million in revenue, ahead of expectations.
• TXO increased its quarterly dividend to $0.40 per share, equivalent to a 10.5% annualized yield, while insiders purchased 500,000 shares over the past three months.

TXO Partners LP (NYSE:TXO - Get Free Report)'s share price hit a new 52-week high on Tuesday . The company traded as high as $15.27 and last traded at $15.1940, with a volume of 258996 shares. The stock had previously closed at $15.06.

Analyst Ratings Changes

A number of research analysts recently issued reports on TXO shares. Wall Street Zen upgraded shares of TXO Partners from a "sell" rating to a "buy" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. 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 research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of $18.50.

TXO Partners Trading Up 1.5%

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. The company's 50 day moving average is $13.58 and its two-hundred day moving average is $13.00. The firm has a market cap of $847.78 million, a P/E ratio of -19.73 and a beta of 0.06.

TXO Partners (NYSE:TXO - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.96. The firm had revenue of $150.87 million for 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%. On average, sell-side analysts predict that TXO Partners LP will post 0.58 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. This is a boost from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date was Friday, August 14th. TXO Partners's dividend payout ratio (DPR) is presently -207.79%.

Insider Activity at TXO Partners

In other news, Director Bob Simpson bought 125,000 shares of the business's stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the purchase, the director owned 9,500,000 shares of the company's stock, valued at $136,040,000. This trade represents a 1.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired 500,000 shares of company stock valued at $6,898,945 in the last three months.

Institutional Investors Weigh In On TXO Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Allied Private Wealth LLC bought a new position in shares of TXO Partners during the 2nd quarter worth about $30,000. Royal Bank of Canada increased its stake in TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company's stock valued at $28,000 after acquiring an additional 1,303 shares during the period. State of Wyoming acquired a new position in TXO Partners in the second quarter worth about $45,000. Kestra Advisory Services LLC acquired a new position in TXO Partners in the fourth quarter worth about $49,000. Finally, Corient Private Wealth LLC bought a new position in TXO Partners during the second quarter worth about $150,000. Institutional investors own 27.44% of the company's stock.

About TXO Partners

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.

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