TXO Partners (NYSE:TXO) Hits New 1-Year Low at $17.23

TXO Partners L.P. (NYSE:TXO)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $17.23 and last traded at $17.80, with a volume of 10623 shares trading hands. The stock had previously closed at $18.96.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TXO. Stifel Nicolaus raised their price objective on shares of TXO Partners from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, August 25th. Raymond James cut their price objective on shares of TXO Partners from $34.00 to $30.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th.

TXO Partners Stock Performance

The firm has a 50 day moving average price of $19.39 and a 200 day moving average price of $20.49. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.86 and a quick ratio of 0.86.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, November 7th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.06). The firm had revenue of $69.87 million for the quarter, compared to analysts’ expectations of $71.38 million. TXO Partners had a net margin of 20.38% and a negative return on equity of 1.33%. On average, equities analysts predict that TXO Partners L.P. will post 0.69 EPS for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Investors of record on Friday, November 17th will be paid a dividend of $0.52 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.48. The ex-dividend date is Thursday, November 16th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 11.43%.

Insider Buying and Selling

In other TXO Partners news, major shareholder Global Endowment Management, L sold 1,500,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.10, for a total transaction of $25,650,000.00. Following the sale, the insider now directly owns 1,139,098 shares of the company’s stock, valued at $19,478,575.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other TXO Partners news, major shareholder Global Endowment Management, L sold 1,500,000 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $17.10, for a total value of $25,650,000.00. Following the completion of the transaction, the insider now directly owns 1,139,098 shares in the company, valued at approximately $19,478,575.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Adams III acquired 15,000 shares of TXO Partners stock in a transaction dated Friday, November 10th. The shares were bought at an average price of $17.60 per share, for a total transaction of $264,000.00. Following the transaction, the director now owns 73,784 shares of the company’s stock, valued at $1,298,598.40. The disclosure for this purchase can be found here.

Institutional Trading of TXO Partners

Hedge funds have recently bought and sold shares of the stock. Barclays PLC bought a new stake in TXO Partners in the 1st quarter worth approximately $5,303,000. Federated Hermes Inc. bought a new stake in TXO Partners in the first quarter worth $601,000. American Century Companies Inc. purchased a new stake in TXO Partners during the first quarter valued at $1,542,000. King Luther Capital Management Corp purchased a new stake in TXO Partners during the first quarter valued at $59,544,000. Finally, Tortoise Capital Advisors L.L.C. bought a new position in TXO Partners during the first quarter valued at $1,156,000. Hedge funds and other institutional investors own 17.05% of the company’s stock.

TXO Partners Company Profile

TXO Partners L.P. focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.