TXO Partners (NYSE:TXO) Reaches New 52-Week High – Still a Buy?

TXO Partners LP (NYSE:TXO)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $15.58 and last traded at $15.4160, with a volume of 10457 shares changing hands. The stock had previously closed at $15.44.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Zacks Research upgraded shares of TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “buy” rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 21st. Finally, Stifel Nicolaus started coverage on shares of TXO Partners in a research note on Thursday. They issued a “buy” rating and a $17.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $17.50.

TXO Partners Stock Performance

The stock has a market cap of $851.71 million, a P/E ratio of -19.95 and a beta of 0.06. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The stock has a 50 day simple moving average of $13.81 and a 200 day simple moving average of $13.08.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.96. The firm had revenue of $150.87 million during the quarter, compared to the consensus estimate of $116.24 million. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%. On average, equities analysts expect that TXO Partners LP will post 0.66 earnings per share for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 14th were given a dividend of $0.40 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 10.4%. The ex-dividend date of this dividend was Friday, August 14th. TXO Partners’s dividend payout ratio (DPR) is currently -207.79%.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson acquired 125,000 shares of TXO Partners stock in a transaction on Thursday, August 13th. The shares were purchased at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the completion of the purchase, the director directly owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. This represents a 1.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have bought 500,000 shares of company stock worth $6,898,945 in the last 90 days.

Institutional Trading of TXO Partners

A number of institutional investors and hedge funds have recently made changes to their positions in TXO. Royal Bank of Canada boosted its position in TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company’s stock valued at $28,000 after buying an additional 1,303 shares in the last quarter. Allied Private Wealth LLC acquired a new position in shares of TXO Partners during the second quarter worth $30,000. State of Wyoming bought a new position in shares of TXO Partners in the 2nd quarter valued at $45,000. Kestra Advisory Services LLC acquired a new stake in shares of TXO Partners during the 4th quarter valued at $49,000. Finally, M&T Bank Corp boosted its holdings in shares of TXO Partners by 33.3% during the 2nd quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock valued at $301,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors own 27.44% of the company’s stock.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing, exploiting and operating conventional energy properties in the United States. Its operations include the production of crude oil, natural gas and natural gas liquids from both operated and non-operated assets.

The company’s asset base is concentrated primarily in the Permian Basin and the San Juan Basin, including properties in New Mexico and surrounding areas. TXO emphasizes mature, producing properties that can provide ongoing production and cash flow through development, optimization and operational improvements.

TXO Partners was established as a publicly traded limited partnership in the 2020s and is headquartered in Midland, Texas.