TXO Partners (NYSE:TXO) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

TXO Partners LP (NYSE:TXO - Get Free Report) shares passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $13.18 and traded as high as $13.32. TXO Partners shares last traded at $13.1950, with a volume of 274,710 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Stephens started coverage on shares of TXO Partners in a research note on Wednesday, October 7th. They set an "overweight" rating and a $22.00 price target on the stock. Zacks Research raised shares of TXO Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 3rd. Wall Street Zen downgraded shares of TXO Partners from a "strong-buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a report on Monday, October 26th. Finally, Stifel Nicolaus assumed coverage on shares of TXO Partners in a research report 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 issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $19.00.

TXO Partners Stock Up 0.5%

The company has a market cap of $731.66 million, a PE ratio of -9.23 and a beta of 0.07. The company has a fifty day moving average of $14.28 and a two-hundred day moving average of $13.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.05 and a current ratio of 0.63.

TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing analysts' consensus estimates of $0.21 by ($0.79). TXO Partners had a negative net margin of 20.52% and a negative return on equity of 11.63%. The firm had revenue of $55.09 million for the quarter, compared to the consensus estimate of $102.05 million. As a group, analysts anticipate that TXO Partners LP will post 0.65 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 13.3%. This is an increase from TXO Partners's previous quarterly dividend of $0.40. TXO Partners's dividend payout ratio is -111.89%.

Insider Activity at TXO Partners

In related news, Director Bob Simpson acquired 125,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The stock was bought at an average price of $14.32 per share, for a total transaction of $1,790,000.00. Following the acquisition, the director directly owned 9,500,000 shares of the company's stock, valued at $136,040,000. This represents a 1.33% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Trading of TXO Partners

A number of hedge funds have recently added to or reduced their stakes in TXO. Virtus Advisers LLC lifted its stake in shares of TXO Partners by 93.6% during the 3rd quarter. Virtus Advisers LLC now owns 10,035 shares of the company's stock worth $137,000 after purchasing an additional 4,851 shares during the last quarter. Simplex Trading LLC acquired a new stake in TXO Partners during the 3rd quarter worth about $67,000. Arrow Investment Advisors LLC increased its holdings in shares of TXO Partners by 14.0% in the third quarter. Arrow Investment Advisors LLC now owns 19,335 shares of the company's stock valued at $264,000 after purchasing an additional 2,374 shares during the period. Chicago Partners Investment Group LLC acquired a new position in shares of TXO Partners in the third quarter valued at about $217,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of TXO Partners by 6.9% in the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company's stock worth $3,609,000 after purchasing an additional 17,000 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

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.

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