TXO Partners (NYSE:TXO) Releases Earnings Results, Misses Expectations By $0.80 EPS

TXO Partners (NYSE:TXO) issued its earnings results on Tuesday. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.80), FiscalAI reports. TXO Partners had a negative net margin of 9.23% and a negative return on equity of 5.59%. The company had revenue of $55.09 million for the quarter, compared to analysts’ expectations of $102.05 million.

TXO Partners Stock Performance

Shares of NYSE:TXO opened at $13.60 on Wednesday. TXO Partners has a 1 year low of $10.12 and a 1 year high of $15.58. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The stock’s 50-day moving average is $14.38 and its 200 day moving average is $13.14.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 13th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, November 13th. This is a boost from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 12.9%. TXO Partners’s payout ratio is -207.79%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other TXO Partners news, Director Bob Simpson acquired 125,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 9,500,000 shares in the company, valued at $136,040,000. This represents a 1.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders purchased 400,000 shares of company stock worth $5,638,250.

TXO Partners Company Profile

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.