TXO Partners (NYSE:TXO) Cut to Sell at Wall Street Zen

Key Points

• TXO Partners has been downgraded from a "hold" to a "sell" rating by Wall Street Zen, indicating a bearish outlook on the stock.
• The company reported earnings per share of $0.24 for the last quarter, missing estimates by $0.12, despite achieving a revenue of $84.33 million.
• Insiders have shown confidence in TXO Partners by purchasing over 3.4 million shares in the last ninety days, totaling approximately $52 million.

TXO Partners (NYSE:TXO - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Saturday.

A number of other equities research analysts have also recently weighed in on the stock. Stifel Nicolaus started coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They issued a "buy" rating and a $20.00 price target for the company. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 price target (up from $23.00) on shares of TXO Partners in a research report on Friday.

TXO Partners Price Performance

Shares of TXO opened at $15.42 on Friday. TXO Partners has a twelve month low of $14.75 and a twelve month high of $21.00. The firm has a market capitalization of $637.72 million, a price-to-earnings ratio of 36.70 and a beta of 0.09. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.28. The firm's fifty day simple moving average is $15.20 and its 200-day simple moving average is $17.26.

TXO Partners (NYSE:TXO - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). TXO Partners had a net margin of 5.22% and a return on equity of 3.89%. The company had revenue of $84.33 million during the quarter, compared to analysts' expectations of $82.00 million. Equities analysts forecast that TXO Partners will post 1.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other TXO Partners news, Director Bob R. Simpson bought 2,250,000 shares of TXO Partners stock in a transaction dated Thursday, May 15th. The stock was acquired at an average cost of $15.00 per share, with a total value of $33,750,000.00. Following the completion of the acquisition, the director owned 6,750,000 shares of the company's stock, valued at approximately $101,250,000. This represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Phillip R. Kevil bought 3,000 shares of TXO Partners stock in a transaction dated Wednesday, May 14th. The stock was acquired at an average cost of $15.18 per share, with a total value of $45,540.00. Following the completion of the acquisition, the director directly owned 27,384 shares of the company's stock, valued at approximately $415,689.12. The trade was a 12.30% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 3,473,000 shares of company stock valued at $52,095,540.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently made changes to their positions in TXO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of TXO Partners during the first quarter worth about $13,026,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake in shares of TXO Partners by 307.7% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company's stock worth $7,971,000 after acquiring an additional 400,000 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of TXO Partners by 41.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock worth $17,795,000 after acquiring an additional 313,049 shares during the period. Raymond James Financial Inc. acquired a new position in shares of TXO Partners during the fourth quarter worth about $4,609,000. Finally, Total Wealth Planning & Management Inc. acquired a new position in shares of TXO Partners during the fourth quarter worth about $1,517,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.

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