TXO Partners (NYSE:TXO) Reaches New 52-Week High - Still a Buy?

Key Points

• TXO Partners reached a new 52-week high of $15.19, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $18.50.
• The company reported quarterly adjusted earnings of $1.07 per share and revenue of $150.87 million, substantially exceeding analyst expectations.
• TXO raised its quarterly dividend to $0.40, equating to a 10.5% annualized yield, while insiders purchased 500,000 shares over the past quarter—though profitability metrics remain negative.

TXO Partners LP (NYSE:TXO - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $15.19 and last traded at $15.17, with a volume of 292142 shares trading hands. The stock had previously closed at $14.48.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TXO. Zacks Research raised TXO Partners from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 4th. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Finally, Wall Street Zen raised shares of TXO Partners from a "sell" rating to a "buy" rating in a research note on Saturday, August 8th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $18.50.

TXO Partners Price Performance

The firm has a market capitalization of $841.12 million, a P/E ratio of -19.70 and a beta of 0.04. The firm has a 50 day moving average price of $13.37 and a 200-day moving average price of $12.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

TXO Partners (NYSE:TXO - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share 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 the consensus estimate 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, analysts expect that TXO Partners LP will post 0.58 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were paid a $0.40 dividend. This is an increase from TXO Partners's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 10.5%. The ex-dividend date of this dividend was Friday, August 14th. TXO Partners's payout ratio is currently -207.79%.

Insider Buying and Selling at TXO Partners

In other news, Director Bob R. Simpson purchased 125,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was purchased at an average cost of $14.32 per share, with a total value of $1,790,000.00. Following the purchase, the director owned 9,500,000 shares in the company, valued at approximately $136,040,000. This trade represents a 1.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have acquired a total of 500,000 shares of company stock valued at $6,898,945 over the last quarter.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Hsbc Holdings PLC bought a new position in shares of TXO Partners during the second quarter valued at approximately $380,000. M&T Bank Corp boosted its holdings in TXO Partners by 33.3% during the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company's stock valued at $301,000 after acquiring an additional 5,000 shares during the period. First Trust Advisors LP purchased a new position in TXO Partners during the 2nd quarter valued at $5,830,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in TXO Partners by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company's stock valued at $10,767,000 after acquiring an additional 35,990 shares during the last quarter. Finally, Raymond James Financial Inc. increased its stake in TXO Partners by 39.1% in the second quarter. Raymond James Financial Inc. now owns 304,980 shares of the company's stock worth $4,587,000 after purchasing an additional 85,684 shares during the period. Hedge funds and other 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source