TXO Partners' (TXO) Strong-Buy Rating Reiterated at Raymond James Financial

Key Points

• TXO Partners received a "strong-buy" rating from Raymond James Financial, with a revised price target of $24.00, indicating a potential upside of 57.69% from the previous close.
• In a separate report, Stifel Nicolaus initiated coverage with a "buy" rating and a target price of $20.00.
• Insider transactions included Director Keith A. Hutton purchasing 700,000 shares for $10,500,000, representing a 16.99% increase in ownership.
• TXO Partners' recent earnings report showed $0.24 EPS, missing estimates, but revenue exceeded expectations at $84.33 million.

TXO Partners (NYSE:TXO - Get Free Report)'s stock had its "strong-buy" rating restated by equities researchers at Raymond James Financial in a research note issued to investors on Friday,Benzinga reports. They presently have a $24.00 price target on the stock, up from their previous price target of $23.00. Raymond James Financial's target price suggests a potential upside of 55.49% from the company's previous close.

Separately, 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.

TXO Partners Stock Up 0.2%

NYSE TXO traded up $0.04 during mid-day trading on Friday, hitting $15.44. The company's stock had a trading volume of 50,768 shares, compared to its average volume of 193,444. The company's 50 day simple moving average is $15.20 and its 200 day simple moving average is $17.20. TXO Partners has a twelve month low of $14.75 and a twelve month high of $21.00. 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 has a market capitalization of $638.55 million, a price-to-earnings ratio of 36.73 and a beta of 0.09.

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

Insiders Place Their Bets

In other news, Director Phillip R. Kevil acquired 3,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were acquired at an average cost of $15.18 per share, for a total transaction of $45,540.00. Following the purchase, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith A. Hutton purchased 700,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The shares were bought at an average price of $15.00 per share, for a total transaction of $10,500,000.00. Following the completion of the transaction, the director owned 4,820,215 shares of the company's stock, valued at approximately $72,303,225. This trade represents a 16.99% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders purchased a total of 3,473,000 shares of company stock worth $52,095,540 in the last ninety days.

Institutional Investors Weigh In On TXO Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC bought a new stake in shares of TXO Partners during the first quarter valued at about $77,000. Apollon Wealth Management LLC bought a new stake in shares of TXO Partners during the second quarter valued at about $152,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of TXO Partners during the first quarter valued at about $216,000. Atria Wealth Solutions Inc. purchased a new stake in TXO Partners in the first quarter valued at approximately $230,000. Finally, XTX Topco Ltd purchased a new stake in TXO Partners in the fourth quarter valued at approximately $270,000. 27.44% of the stock is currently owned by 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.