TXO Partners, L.P. to Post Q1 2024 Earnings of $0.23 Per Share, Capital One Financial Forecasts (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO) – Analysts at Capital One Financial upped their Q1 2024 earnings estimates for TXO Partners in a report released on Wednesday, April 3rd. Capital One Financial analyst P. Johnston now expects that the company will earn $0.23 per share for the quarter, up from their prior forecast of $0.21. The consensus estimate for TXO Partners’ current full-year earnings is $1.15 per share. Capital One Financial also issued estimates for TXO Partners’ Q2 2024 earnings at $0.35 EPS.

A number of other equities analysts also recently commented on the company. Stifel Nicolaus dropped their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Raymond James dropped their price objective on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th.

TXO Partners Price Performance

NYSE TXO opened at $18.27 on Friday. The company has a 50 day simple moving average of $18.06 and a 200-day simple moving average of $18.30. TXO Partners has a 52-week low of $17.20 and a 52-week high of $24.83. The firm has a market capitalization of $561.80 million, a price-to-earnings ratio of -5.50 and a beta of -0.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.72. The business had revenue of $91.97 million during the quarter, compared to analyst estimates of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%.

Hedge Funds Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXO. Venturi Wealth Management LLC grew its holdings in TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. UBS Group AG acquired a new position in TXO Partners during the third quarter valued at approximately $51,000. Brown Brothers Harriman & Co. bought a new stake in shares of TXO Partners in the fourth quarter valued at approximately $183,000. Raymond James Financial Services Advisors Inc. bought a new stake in shares of TXO Partners in the third quarter valued at approximately $206,000. Finally, GSA Capital Partners LLP bought a new stake in shares of TXO Partners in the fourth quarter valued at approximately $222,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 12.70%. The ex-dividend date was Thursday, March 14th. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is -69.88%.

About TXO Partners

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.