TXO Partners (NYSE:TXO) Coverage Initiated at Stifel Nicolaus

Analysts at Stifel Nicolaus initiated coverage on shares of TXO Partners (NYSE:TXO) in a report released on Wednesday. The brokerage set a “buy” rating and a $20.00 price target on the stock. Stifel Nicolaus’ price objective indicates a potential upside of 18.48% from the company’s previous close.

TXO Partners Stock Down 0.6 %

TXO stock opened at $16.88 on Wednesday. The company has a market capitalization of $694.92 million, a P/E ratio of -2.84 and a beta of 0.09. TXO Partners has a 12 month low of $15.22 and a 12 month high of $23.56. The firm’s fifty day simple moving average is $18.51 and its 200-day simple moving average is $17.99. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.13). The business had revenue of $83.68 million during the quarter, compared to analysts’ expectations of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. As a group, equities research analysts forecast that TXO Partners will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In other TXO Partners news, CEO Gary D. Simpson sold 31,517 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $19.08, for a total value of $601,344.36. Following the completion of the transaction, the chief executive officer now owns 408,053 shares in the company, valued at approximately $7,785,651.24. This represents a 7.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brent W. Clum sold 7,702 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $18.59, for a total value of $143,180.18. Following the sale, the chief financial officer now owns 470,337 shares in the company, valued at $8,743,564.83. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,994 shares of company stock worth $851,882.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. CWA Asset Management Group LLC acquired a new position in TXO Partners during the fourth quarter worth $654,000. Thurston Springer Miller Herd & Titak Inc. increased its stake in shares of TXO Partners by 109.7% during the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,916 shares of the company’s stock worth $150,000 after purchasing an additional 4,664 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of TXO Partners during the 4th quarter worth about $505,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in shares of TXO Partners by 28.2% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 50,000 shares of the company’s stock worth $842,000 after purchasing an additional 11,000 shares during the last quarter. Finally, Childress Capital Advisors LLC purchased a new position in TXO Partners in the 4th quarter valued at about $423,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, 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.