CIBC Private Wealth Group LLC Raises Stock Position in TXO Partners LP $TXO

CIBC Private Wealth Group LLC boosted its stake in shares of TXO Partners LP (NYSE:TXO) by 3.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,807,967 shares of the company’s stock after acquiring an additional 52,903 shares during the period. CIBC Private Wealth Group LLC owned about 3.30% of TXO Partners worth $25,402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CIBC Bancorp USA Inc. purchased a new stake in shares of TXO Partners during the third quarter worth about $25,402,000. Global Endowment Management LP lifted its stake in TXO Partners by 54.9% in the 3rd quarter. Global Endowment Management LP now owns 2,686,017 shares of the company’s stock valued at $37,739,000 after buying an additional 952,257 shares in the last quarter. American Century Companies Inc. lifted its stake in TXO Partners by 40.7% in the 2nd quarter. American Century Companies Inc. now owns 1,490,548 shares of the company’s stock valued at $22,418,000 after buying an additional 431,234 shares in the last quarter. First Trust Advisors LP acquired a new stake in TXO Partners in the 2nd quarter worth about $5,830,000. Finally, ING Groep NV boosted its holdings in TXO Partners by 149.4% in the 3rd quarter. ING Groep NV now owns 404,000 shares of the company’s stock worth $5,676,000 after buying an additional 242,000 shares during the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TXO Partners

In related news, CEO Gary D. Simpson sold 8,126 shares of the firm’s stock in a transaction dated Saturday, January 31st. The stock was sold at an average price of $12.07, for a total transaction of $98,080.82. Following the completion of the sale, the chief executive officer directly owned 608,252 shares of the company’s stock, valued at approximately $7,341,601.64. This trade represents a 1.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott T. Agosta sold 10,689 shares of the firm’s stock in a transaction dated Saturday, January 31st. The stock was sold at an average price of $12.07, for a total value of $129,016.23. Following the sale, the chief accounting officer directly owned 205,474 shares of the company’s stock, valued at $2,480,071.18. The trade was a 4.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 38,386 shares of company stock worth $463,319 in the last ninety days.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Raymond James Financial set a $18.00 target price on TXO Partners in a report on Tuesday, January 27th. Weiss Ratings cut TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. Wall Street Zen raised TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Stifel Nicolaus raised their price objective on TXO Partners from $18.00 to $19.00 and gave the company a “buy” rating in a report on Friday, March 6th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, TXO Partners presently has an average rating of “Moderate Buy” and an average target price of $18.50.

TXO Partners Stock Performance

Shares of TXO Partners stock opened at $12.60 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.62 and a current ratio of 0.62. The business’s 50 day moving average price is $12.06 and its 200 day moving average price is $12.54. The company has a market cap of $696.02 million, a price-to-earnings ratio of -29.30 and a beta of 0.10. TXO Partners LP has a one year low of $10.12 and a one year high of $20.08.

TXO Partners (NYSE:TXO) last issued its earnings results on Thursday, February 26th. The company reported ($0.57) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.67). The company had revenue of $125.93 million during the quarter, compared to analyst estimates of $111.09 million. TXO Partners had a negative return on equity of 2.03% and a negative net margin of 5.39%. On average, research analysts predict that TXO Partners LP will post 1.02 EPS for the current year.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Tuesday, March 10th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 9.5%. TXO Partners’s payout ratio is -279.07%.

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.