TXO Partners (NYSE:TXO) Stock Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• TXO Partners shares moved above their 50-day moving average, reaching $14.64 and last trading near $14.45, compared with a 50-day average of $14.40.
• Analysts are broadly optimistic, with an average rating of “Buy” and a $19 consensus price target, although one firm maintained a sell rating.
• The company raised its quarterly dividend to $0.40 per share, implying a 11.1% annualized yield; its latest quarterly earnings and revenue also exceeded analyst expectations, while insiders purchased additional shares.

TXO Partners LP (NYSE:TXO - Get Free Report) shares passed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $14.40 and traded as high as $14.64. TXO Partners shares last traded at $14.4450, with a volume of 84,636 shares changing hands.

Analyst Upgrades and Downgrades

TXO has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Monday. Stifel Nicolaus started 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. Stephens began coverage on TXO Partners in a research report on Wednesday, October 7th. They set an "overweight" rating and a $22.00 target price on the stock. Zacks Research upgraded TXO Partners from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 3rd. Finally, Wall Street Zen upgraded TXO Partners from a "buy" rating to a "strong-buy" rating in a research note on Saturday, September 26th. Two 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. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $19.00.

TXO Partners Stock Up 1.0%

The business has a 50-day moving average price of $14.40 and a 200-day moving average price of $13.08. The stock has a market cap of $800.98 million, a PE ratio of -18.76 and a beta of 0.08. 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 issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.11 by $0.96. The company had revenue of $150.87 million during the quarter, compared to analyst estimates of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. As a group, analysts forecast that TXO Partners LP will post 0.60 earnings per share for the current year.

TXO Partners Increases Dividend

The business 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 a boost from TXO Partners's previous quarterly dividend of $0.36. The ex-dividend date was Friday, August 14th. This represents a $1.60 annualized dividend and a dividend yield of 11.1%. TXO Partners's payout ratio is currently -207.79%.

Insiders Place Their Bets

In other news, Director Bob Simpson acquired 125,000 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were bought at an average cost 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 approximately $136,040,000. This represents a 1.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 400,000 shares of company stock valued at $5,638,250.

Institutional Investors Weigh In On TXO Partners

Large investors have recently bought and sold shares of the company. Apollon Wealth Management LLC increased its position in shares of TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company's stock worth $179,000 after purchasing an additional 716 shares in the last quarter. CWA Asset Management Group LLC raised its stake in TXO Partners by 7.5% in the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company's stock valued at $250,000 after purchasing an additional 1,272 shares during the last quarter. Allied Private Wealth LLC acquired a new position in TXO Partners in the 2nd quarter valued at $30,000. First Trust Advisors LP raised its stake in TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company's stock valued at $6,511,000 after purchasing an additional 10,877 shares during the last quarter. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in TXO Partners by 6.9% in the 3rd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 264,000 shares of the company's stock valued at $3,609,000 after purchasing an additional 17,000 shares in the last quarter. 27.44% of the stock is currently 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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