Brent Clum Sells 27,234 Shares of TXO Partners (NYSE:TXO) Stock

TXO Partners LP (NYSE:TXO) CEO Brent Clum sold 27,234 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $12.38, for a total value of $337,156.92. Following the transaction, the chief executive officer directly owned 800,340 shares of the company’s stock, valued at $9,908,209.20. This represents a 3.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

TXO Partners Price Performance

Shares of TXO Partners stock opened at $12.52 on Friday. TXO Partners LP has a 52 week low of $10.12 and a 52 week high of $18.91. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 0.42. The stock has a market cap of $691.33 million, a PE ratio of -29.10 and a beta of 0.04. The company’s 50-day moving average price is $12.48 and its two-hundred day moving average price is $12.46.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($0.57) earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.67). The business had revenue of $125.93 million for the quarter, compared to the consensus estimate of $111.09 million. TXO Partners had a negative net margin of 5.39% and a negative return on equity of 2.03%. As a group, sell-side analysts anticipate that TXO Partners LP will post 1.02 EPS for the current fiscal year.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were given a $0.30 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $1.20 annualized dividend and a yield of 9.6%. TXO Partners’s payout ratio is -279.07%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXO. Hsbc Holdings PLC purchased a new stake in shares of TXO Partners in the second quarter valued at $380,000. M&T Bank Corp grew its holdings in shares of TXO Partners by 33.3% during the second quarter. M&T Bank Corp now owns 20,000 shares of the company’s stock valued at $301,000 after buying an additional 5,000 shares in the last quarter. First Trust Advisors LP acquired a new position in TXO Partners during the second quarter valued at $5,830,000. Marathon Capital Management lifted its stake in TXO Partners by 40.0% in the 2nd quarter. Marathon Capital Management now owns 35,000 shares of the company’s stock worth $526,000 after acquiring an additional 10,000 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in TXO Partners by 5.3% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after acquiring an additional 35,990 shares in the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TXO has been the subject of a number of recent research reports. Raymond James Financial set a $18.00 price objective on TXO Partners in a research report on Tuesday, January 27th. Wall Street Zen raised TXO Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 7th. Stifel Nicolaus increased their price target on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a research report on Friday, March 6th. Finally, Weiss Ratings cut TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $18.50.

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.