TXO Partners LP (NYSE:TXO) Stock Has Average Price Target of $19.00

TXO Partners LP (NYSE:TXO) has been assigned a consensus recommendation of “Buy” from the five research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $19.00.

Several equities research analysts have commented on TXO shares. Stifel Nicolaus initiated coverage on TXO Partners in a research note on Thursday, September 10th. They set a “buy” rating and a $17.00 price target for the company. Zacks Research upgraded TXO Partners from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 3rd. Weiss Ratings raised TXO Partners from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday, October 26th. Wall Street Zen cut TXO Partners from a “strong-buy” rating to a “hold” rating in a report on Saturday. Finally, Stephens initiated coverage on TXO Partners in a report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 target price for the company.

Insider Transactions at TXO Partners

In other TXO Partners news, Director Bob Simpson acquired 125,000 shares of the firm’s stock in a transaction on Thursday, August 13th. The stock was bought 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 in the company, valued at $136,040,000. This represents a 1.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have purchased 300,000 shares of company stock worth $4,286,250 in the last ninety days.

Institutional Trading of TXO Partners

Several large investors have recently bought and sold shares of TXO. Allied Private Wealth LLC acquired a new position in shares of TXO Partners during the second quarter worth $30,000. Simplex Trading LLC acquired a new stake in TXO Partners during the 3rd quarter valued at $67,000. Apollon Wealth Management LLC grew its holdings in TXO Partners by 5.8% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after purchasing an additional 716 shares in the last quarter. Chicago Partners Investment Group LLC acquired a new stake in TXO Partners during the 3rd quarter valued at $217,000. Finally, CWA Asset Management Group LLC increased its stake in TXO Partners by 7.5% during the 3rd quarter. CWA Asset Management Group LLC now owns 18,315 shares of the company’s stock worth $250,000 after buying an additional 1,272 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

TXO Partners Stock Up 3.6%

Shares of NYSE TXO opened at $13.14 on Friday. TXO Partners has a 52-week low of $10.12 and a 52-week high of $15.58. The firm has a fifty day moving average of $14.30 and a 200-day moving average of $13.17. The stock has a market capitalization of $728.67 million, a PE ratio of -9.19 and a beta of 0.07. The company has a quick ratio of 1.05, a current ratio of 0.63 and a debt-to-equity ratio of 0.45.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, November 3rd. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.79). TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. The firm had revenue of $55.09 million during the quarter, compared to analysts’ expectations of $102.05 million. On average, analysts anticipate that TXO Partners will post 0.65 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 13.4%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Friday, November 13th. TXO Partners’s dividend payout ratio is presently -123.08%.

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.