TXO Partners LP (NYSE:TXO) Stock Short Interest Report for October

TXO Partners LP (NYSE:TXO) saw a large decrease in short interest in the month of October. As of October 15th, there was short interest totaling 418,689 shares, a decrease of 44.5% from the September 30th total of 754,887 shares. Approximately 0.8% of the shares of the company are sold short. Based on an average daily volume of 105,670 shares, the days-to-cover ratio is presently 4.0 days.

Insider Transactions at TXO Partners

In other news, Director Bob Simpson bought 125,000 shares of the business’s stock in a transaction that occurred on Thursday, August 13th. The stock was acquired at an average cost of $14.32 per share, for a total transaction of $1,790,000.00. Following the purchase, the director owned 9,500,000 shares of the company’s stock, valued at approximately $136,040,000. This trade represents a 1.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have bought 400,000 shares of company stock valued at $5,638,250.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Energy Income Partners LLC lifted its stake in TXO Partners by 27.5% in the 1st quarter. Energy Income Partners LLC now owns 1,449,028 shares of the company’s stock valued at $18,229,000 after purchasing an additional 312,120 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of TXO Partners by 2.1% in the 1st quarter. First Trust Advisors LP now owns 517,597 shares of the company’s stock valued at $6,511,000 after acquiring an additional 10,877 shares during the last quarter. Bank of America Corp DE boosted its holdings in shares of TXO Partners by 259.3% during the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock valued at $4,715,000 after acquiring an additional 270,465 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new stake in shares of TXO Partners during the 2nd quarter valued at $4,469,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of TXO Partners during the 3rd quarter valued at $4,305,000. 27.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on TXO. Stephens initiated coverage on TXO Partners in a research report on Wednesday, October 7th. They issued an “overweight” rating and a $22.00 price objective for the company. Weiss Ratings upgraded TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Zacks Research raised TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Wall Street Zen upgraded TXO Partners from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Stifel Nicolaus started coverage on TXO Partners in a research note on Thursday, September 10th. They issued a “buy” rating and a $17.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $19.00.

TXO Partners Price Performance

TXO traded down $0.48 on Monday, reaching $13.55. The company had a trading volume of 116,404 shares, compared to its average volume of 91,902. TXO Partners has a fifty-two week low of $10.12 and a fifty-two week high of $15.58. The company’s fifty day moving average is $14.39 and its 200 day moving average is $13.13. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.96. The firm had revenue of $150.87 million for 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%. On average, analysts forecast that TXO Partners will post 0.60 earnings per share for the current year.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 11.8%. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. TXO Partners’s payout ratio is presently -207.79%.

About TXO Partners

TXO Partners, L.P. (NYSE: TXO) is an independent oil and natural gas company focused on acquiring, developing and exploiting producing properties. The company’s operations are centered on mature, conventional oil and natural gas assets, with an emphasis on generating production and cash flow from properties that may offer additional development or operating opportunities.

TXO Partners primarily operates in the Permian Basin, one of the largest oil-producing regions in the United States.