TXO Partners (NYSE:TXO) Reaches New 12-Month Low - Time to Sell?

TXO Partners, L.P. (NYSE:TXO - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $14.85 and last traded at $14.86, with a volume of 151006 shares changing hands. The stock had previously closed at $14.96.

Analyst Ratings Changes

Separately, Stifel Nicolaus initiated coverage on TXO Partners in a research note on Wednesday, April 23rd. They issued a "buy" rating and a $20.00 price target for the company.

TXO Partners Price Performance

The company's 50-day simple moving average is $16.38 and its 200 day simple moving average is $17.86. The company has a market capitalization of $625.48 million, a P/E ratio of -2.55 and a beta of 0.17. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25.

TXO Partners (NYSE:TXO - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $84.33 million during the quarter, compared to analyst estimates of $82.00 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. As a group, sell-side analysts expect that TXO Partners, L.P. will post 1.02 earnings per share for the current fiscal year.

TXO Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 16th were issued a $0.61 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 16.14%. TXO Partners's dividend payout ratio (DPR) is currently 580.95%.

Insiders Place Their Bets

In other news, CEO Gary D. Simpson sold 31,517 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the sale, the chief executive officer now directly owns 408,053 shares in the company, valued at approximately $7,785,651.24. The trade was a 7.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lawrence S. Massaro bought 20,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $300,000.00. Following the completion of the purchase, the director now directly owns 23,900 shares in the company, valued at $358,500. The trade was a 512.82% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 3,473,000 shares of company stock valued at $52,095,540 over the last 90 days.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors have recently made changes to their positions in TXO. CWM LLC bought a new stake in TXO Partners during the 1st quarter valued at approximately $77,000. Wilmington Savings Fund Society FSB acquired a new position in shares of TXO Partners during the fourth quarter worth approximately $72,000. Cambridge Investment Research Advisors Inc. acquired a new position in shares of TXO Partners during the first quarter worth approximately $216,000. Atria Wealth Solutions Inc. bought a new stake in shares of TXO Partners in the first quarter valued at approximately $230,000. Finally, M&T Bank Corp acquired a new stake in shares of TXO Partners in the fourth quarter worth $253,000. 27.44% of the stock is currently owned by institutional investors.

About TXO Partners

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.