TXO Partners (NYSE:TXO) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of TXO Partners (NYSE:TXO) from a strong sell rating to a hold rating in a research report report published on Tuesday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on TXO. Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Raymond James Financial reiterated a “strong-buy” rating on shares of TXO Partners in a research report on Wednesday, April 29th. Finally, Weiss Ratings cut TXO Partners from a “sell (d+)” rating to a “sell (d)” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.50.

TXO Partners Price Performance

TXO stock opened at $13.56 on Tuesday. The firm has a 50 day simple moving average of $12.95 and a two-hundred day simple moving average of $12.61. The stock has a market cap of $749.33 million, a PE ratio of -7.37 and a beta of 0.04. TXO Partners has a one year low of $10.12 and a one year high of $15.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.43 and a quick ratio of 0.43.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data 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. TXO Partners had a negative net margin of 28.52% and a negative return on equity of 14.13%. The firm had revenue of $150.87 million for the quarter, compared to analysts’ expectations of $116.24 million. On average, analysts predict that TXO Partners will post 0.13 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 14th will be issued a $0.40 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 11.8%. The ex-dividend date is Friday, August 14th. TXO Partners’s dividend payout ratio (DPR) is presently -78.26%.

Insider Buying and Selling at TXO Partners

In related news, Director Bob R. Simpson bought 63,282 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The stock was bought at an average cost of $12.64 per share, for a total transaction of $799,884.48. Following the acquisition, the director directly owned 9,100,000 shares of the company’s stock, valued at $115,024,000. The trade was a 0.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders bought 2,272,365 shares of company stock valued at $29,988,110.

Institutional Trading of TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in TXO Partners during the 4th quarter valued at about $5,586,000. First Trust Advisors LP bought a new stake in TXO Partners in the second quarter valued at $5,830,000. Energy Income Partners LLC increased its position in TXO Partners by 27.5% during 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 period. Bank of America Corp DE lifted its position in shares of TXO Partners by 259.3% in the 1st quarter. Bank of America Corp DE now owns 374,780 shares of the company’s stock worth $4,715,000 after purchasing an additional 270,465 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of TXO Partners by 12.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 2,034,567 shares of the company’s stock valued at $21,709,000 after buying an additional 226,600 shares during the period. Institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

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.