TXO Partners (NYSE:TXO) Sets New 12-Month Low - Here's What Happened

TXO Partners, L.P. (NYSE:TXO - Get Free Report)'s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $14.99 and last traded at $15.44, with a volume of 3646425 shares changing hands. The stock had previously closed at $17.68.

Analysts Set New Price Targets

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 Stock Performance

The firm has a market capitalization of $629.00 million, a price-to-earnings ratio of -2.56 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. The stock's fifty day moving average is $17.53 and its two-hundred day moving average is $18.04.

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 analysts' consensus estimates of $0.36 by ($0.12). The company had revenue of $84.33 million for the quarter, compared to analyst estimates of $82.00 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. On average, analysts predict that TXO Partners, L.P. will post 1.02 earnings per share for the current year.

TXO Partners Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be issued a $0.61 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $2.44 dividend on an annualized basis and a yield of 16.05%. TXO Partners's payout ratio is presently 580.95%.

Insider Activity

In related news, Director Bob R. Simpson bought 2,250,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 6,750,000 shares in the company, valued at approximately $101,250,000. This trade represents a 50.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Luther King, Jr. purchased 500,000 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was bought at an average cost of $15.00 per share, with a total value of $7,500,000.00. Following the purchase, the insider now owns 3,061,530 shares of the company's stock, valued at approximately $45,922,950. This trade represents a 19.52% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have 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 have recently modified their holdings of the company. CIBC Private Wealth Group LLC boosted its position in shares of TXO Partners by 41.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock worth $17,795,000 after purchasing an additional 313,049 shares in the last quarter. Energy Income Partners LLC boosted its holdings in TXO Partners by 8.7% in the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company's stock worth $15,014,000 after acquiring an additional 62,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in TXO Partners in the first quarter worth approximately $13,026,000. Pin Oak Investment Advisors Inc. grew its stake in TXO Partners by 0.3% in the fourth quarter. Pin Oak Investment Advisors Inc. now owns 291,882 shares of the company's stock valued at $4,915,000 after acquiring an additional 821 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of TXO Partners during the fourth quarter valued at approximately $4,609,000. 27.44% of the stock is 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.