TXO Partners (NYSE:TXO) Cut to “Hold” at Wall Street Zen
by Teresa Graham · The Cerbat GemWall Street Zen downgraded shares of TXO Partners (NYSE:TXO – Free Report) from a strong-buy rating to a hold rating in a research report released on Saturday,Wall Street Zen reports.
TXO has been the subject of several other reports. 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 upgraded TXO Partners from a “hold” rating to a “strong-buy” rating in a research report on Thursday, September 3rd. Stephens assumed coverage on TXO Partners in a research report on Wednesday, October 7th. They set an “overweight” rating and a $22.00 target price on the stock. Finally, Stifel Nicolaus initiated coverage on TXO Partners in a report on Thursday, September 10th. They set a “buy” rating and a $17.00 price target for the company. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $19.00.
View Our Latest Report on TXO Partners
TXO Partners Stock Performance
Shares of NYSE TXO opened at $13.20 on Friday. TXO Partners has a 12-month low of $10.12 and a 12-month high of $15.58. The firm has a market capitalization of $731.66 million, a price-to-earnings ratio of -9.23 and a beta of 0.07. The company has a current ratio of 0.63, a quick ratio of 1.05 and a debt-to-equity ratio of 0.45. The firm has a 50 day moving average of $14.28 and a 200 day moving average of $13.18.
TXO Partners (NYSE:TXO – Get Free Report) last released its quarterly 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). The business had revenue of $55.09 million during the quarter, compared to the consensus estimate of $102.05 million. TXO Partners had a negative return on equity of 11.63% and a negative net margin of 20.52%. On average, research analysts anticipate that TXO Partners will post 0.65 earnings per share for the current year.
TXO Partners Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 13th will be issued a dividend of $0.44 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 13.3%. The ex-dividend date of this dividend is Friday, November 13th. TXO Partners’s payout ratio is presently -111.89%.
Insider Buying and Selling at TXO Partners
In other news, Director Bob Simpson purchased 125,000 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 9,500,000 shares in the company, valued at $136,040,000. This trade represents a 1.33% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
Institutional Trading of TXO Partners
Several institutional investors and hedge funds have recently modified their holdings of the company. Allied Private Wealth LLC bought a new position in TXO Partners in the 2nd quarter worth $30,000. Simplex Trading LLC bought a new stake in TXO Partners during the third quarter valued at about $67,000. Virtus Advisers LLC raised its holdings in TXO Partners by 93.6% during the third quarter. Virtus Advisers LLC now owns 10,035 shares of the company’s stock valued at $137,000 after acquiring an additional 4,851 shares during the period. Apollon Wealth Management LLC raised its holdings in TXO Partners by 5.8% during the third quarter. Apollon Wealth Management LLC now owns 13,124 shares of the company’s stock valued at $179,000 after acquiring an additional 716 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in TXO Partners during the third quarter valued at about $217,000. 27.44% of the stock is currently owned by institutional investors.
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.
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