TXO Partners (NYSE:TXO) Stock Rating Upgraded by Wall Street Zen

Key Points

• TXO Partners was upgraded from a "sell" rating to a "hold" rating by analysts at Wall Street Zen, indicating a more favorable outlook for the stock.
• Raymond James Financial reiterated a "strong-buy" rating and raised the target price for TXO Partners to $24.00, reflecting confidence in the company's performance.
• Recent insider trading shows significant confidence, with Director Keith A. Hutton purchasing 700,000 shares, increasing ownership in TXO Partners by 16.99%.

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

TXO has been the topic of a number of other reports. Raymond James Financial reissued a "strong-buy" rating and set a $24.00 price target (up from $23.00) on shares of TXO Partners in a research report on Friday, July 25th. Stifel Nicolaus initiated coverage on shares of TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price target on the stock.

TXO Partners Trading Up 0.0%

TXO traded up $0.00 during trading on Friday, reaching $14.59. 82,077 shares of the company's stock were exchanged, compared to its average volume of 192,946. The company's fifty day moving average price is $15.16 and its 200-day moving average price is $16.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. TXO Partners has a fifty-two week low of $14.08 and a fifty-two week high of $20.93. The firm has a market capitalization of $603.60 million, a PE ratio of 44.27 and a beta of 0.09.

Insider Activity at TXO Partners

In related news, Director Bob R. Simpson acquired 2,250,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The shares were acquired at an average cost of $15.00 per share, with a total value of $33,750,000.00. Following the transaction, the director owned 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Luther King, Jr. acquired 500,000 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was bought at an average cost of $15.00 per share, for a total transaction of $7,500,000.00. Following the completion of the transaction, the insider directly owned 3,061,530 shares in the company, valued at $45,922,950. This represents a 19.52% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 3,470,000 shares of company stock valued at $52,050,000.

Institutional Investors Weigh In On TXO Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC bought a new stake in TXO Partners in the 2nd quarter valued at $380,000. American Century Companies Inc. increased its stake in TXO Partners by 40.7% in the 2nd quarter. American Century Companies Inc. now owns 1,490,548 shares of the company's stock valued at $22,418,000 after buying an additional 431,234 shares during the last quarter. Boston Partners acquired a new stake in TXO Partners in the 2nd quarter valued at $178,000. King Luther Capital Management Corp increased its stake in TXO Partners by 19.9% in the 2nd quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company's stock valued at $46,200,000 after buying an additional 510,266 shares during the last quarter. Finally, Simplex Trading LLC acquired a new stake in TXO Partners in the 2nd quarter valued at $198,000. 27.44% of the stock is 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.