TXO Partners (NYSE:TXO) Posts Earnings Results, Beats Estimates By $0.72 EPS

TXO Partners (NYSE:TXOGet Free Report) released its quarterly earnings results on Tuesday. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72, reports. The company had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%.

TXO Partners Stock Down 0.1 %

Shares of TXO opened at $18.54 on Friday. The company has a quick ratio of 0.86, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The stock has a market cap of $570.11 million, a price-to-earnings ratio of -5.58 and a beta of -0.14. The company has a 50-day moving average price of $18.05 and a two-hundred day moving average price of $18.33. TXO Partners has a 12 month low of $17.20 and a 12 month high of $24.99.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 12.51%. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend is Thursday, March 14th. TXO Partners’s dividend payout ratio is presently -62.65%.

Institutional Trading of TXO Partners

A number of institutional investors have recently bought and sold shares of the business. King Luther Capital Management Corp boosted its holdings in TXO Partners by 0.6% in the 4th quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after purchasing an additional 15,000 shares during the period. Raymond James & Associates lifted its stake in shares of TXO Partners by 1.3% in the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after buying an additional 3,331 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of TXO Partners in the fourth quarter valued at $4,346,000. Nokomis Capital L.L.C. lifted its position in shares of TXO Partners by 59.6% during the fourth quarter. Nokomis Capital L.L.C. now owns 153,950 shares of the company’s stock valued at $2,799,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in TXO Partners during the fourth quarter worth about $2,685,000. Institutional investors and hedge funds own 17.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TXO. Stifel Nicolaus reduced their target price on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Raymond James reduced their price objective on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th.

View Our Latest Report on TXO

TXO Partners Company Profile

(Get Free Report)

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.

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