Hennessy Advisors Inc. Invests $488,000 in TXO Partners LP $TXO

Hennessy Advisors Inc. acquired a new stake in shares of TXO Partners LP (NYSE:TXO) during the 2nd quarter, Holdings Channel reports. The fund acquired 39,000 shares of the company’s stock, valued at approximately $488,000.

Other hedge funds also recently bought and sold shares of the company. Allied Private Wealth LLC purchased a new stake in TXO Partners in the 2nd quarter worth about $30,000. Royal Bank of Canada increased its stake in TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock worth $28,000 after purchasing an additional 1,303 shares during the period. State of Wyoming bought a new stake in shares of TXO Partners during the second quarter worth $45,000. Kestra Advisory Services LLC bought a new stake in shares of TXO Partners during the fourth quarter worth $49,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of TXO Partners during the second quarter valued at $150,000. Institutional investors own 27.44% of the company’s stock.

TXO Partners Price Performance

Shares of TXO stock opened at $14.51 on Monday. TXO Partners LP has a 1-year low of $10.12 and a 1-year high of $14.89. The stock’s 50-day moving average is $13.28 and its 200 day moving average is $12.90. The company has a market cap of $804.58 million, a P/E ratio of -18.84 and a beta of 0.04. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, August 4th. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The company had revenue of $150.87 million during the quarter, compared to analysts’ expectations of $116.24 million. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. Research analysts predict that TXO Partners LP will post 0.58 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 14th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.0%. TXO Partners’s payout ratio is currently -207.79%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TXO. Weiss Ratings upgraded shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Wall Street Zen raised shares of TXO Partners from a “sell” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Zacks Research upgraded shares of TXO Partners from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, TXO Partners currently has an average rating of “Moderate Buy” and a consensus price target of $18.50.

Insider Activity at TXO Partners

In other TXO Partners news, Director Bob R. Simpson acquired 125,000 shares of the stock in a transaction dated Thursday, August 13th. The stock was purchased at an average price of $14.32 per share, with a total value of $1,790,000.00. Following the transaction, the director directly owned 9,500,000 shares of the company’s stock, valued at $136,040,000. This trade represents a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders acquired 1,100,000 shares of company stock worth $15,129,522.

About TXO Partners

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.