TXO Partners (NYSE:TXO) Hits New 1-Year Low - Here's What Happened

TXO Partners, L.P. (NYSE:TXO - Get Free Report)'s share price reached a new 52-week low during trading on Thursday . The stock 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.

Analyst Upgrades and Downgrades

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

TXO Partners Price Performance

The stock has a market capitalization of $627.97 million, a price-to-earnings ratio of -2.56 and a beta of 0.17. The company has a 50 day moving average of $17.62 and a 200 day moving average of $18.03. 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 earnings results on Thursday, May 1st. The company reported $0.24 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, equities research analysts forecast that TXO Partners, L.P. will post 1.02 EPS for the current fiscal year.

TXO Partners Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 23rd. Shareholders of record on Friday, May 16th will be paid a dividend of $0.61 per share. The ex-dividend date is Friday, May 16th. This represents a $2.44 annualized dividend and a yield of 16.07%. TXO Partners's dividend payout ratio is presently 580.95%.

Insiders Place Their Bets

In other news, Director Bob R. Simpson purchased 2,250,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $33,750,000.00. Following the completion of the purchase, the director now directly owns 6,750,000 shares of the company's stock, valued at $101,250,000. The trade was a 50.00% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Lawrence S. Massaro purchased 20,000 shares of the company's stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, with a total value of $300,000.00. Following the completion of the purchase, the director now directly owns 23,900 shares of the company's stock, valued at $358,500. The trade was a 512.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 2,973,000 shares of company stock worth $44,595,540 over the last three months.

Institutional Investors Weigh In On TXO Partners

Large investors have recently modified their holdings of the stock. CWM LLC acquired a new stake in shares of TXO Partners in the first quarter valued at about $77,000. Wilmington Savings Fund Society FSB purchased a new position in TXO Partners in the fourth quarter valued at about $72,000. Cambridge Investment Research Advisors Inc. purchased a new position in TXO Partners in the first quarter valued at about $216,000. Atria Wealth Solutions Inc. purchased a new position in TXO Partners in the first quarter valued at about $230,000. Finally, M&T Bank Corp purchased a new position in TXO Partners in the fourth quarter valued at about $253,000. Institutional investors and hedge funds own 27.44% of the company's stock.

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.