TXO Partners, L.P. (NYSE:TXO) Forecasted to Post Q3 2024 Earnings of $0.34 Per Share

TXO Partners, L.P. (NYSE:TXO) – Analysts at Capital One Financial dropped their Q3 2024 earnings per share (EPS) estimates for TXO Partners in a report issued on Wednesday, June 26th. Capital One Financial analyst P. Johnston now expects that the company will post earnings per share of $0.34 for the quarter, down from their previous forecast of $0.36. The consensus estimate for TXO Partners’ current full-year earnings is $1.28 per share.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million during the quarter, compared to the consensus estimate of $65.24 million.

TXO Partners Price Performance

TXO Partners stock opened at $20.16 on Thursday. The company’s 50 day simple moving average is $20.90 and its 200-day simple moving average is $19.71. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. TXO Partners has a 1 year low of $17.20 and a 1 year high of $23.56. The company has a market capitalization of $623.75 million, a price-to-earnings ratio of -3.45 and a beta of 0.10.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently modified their holdings of TXO. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners in the fourth quarter valued at $4,346,000. Hsbc Holdings PLC purchased a new position in shares of TXO Partners in the 4th quarter valued at about $2,685,000. Energy Income Partners LLC grew its position in shares of TXO Partners by 37.7% during the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock worth $8,857,000 after buying an additional 135,029 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of TXO Partners by 418.8% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock worth $958,000 after buying an additional 42,533 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners in the fourth quarter valued at approximately $690,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Insider Transactions at TXO Partners

In other news, insider Keith A. Hutton bought 878,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased at an average price of $20.00 per share, with a total value of $17,560,000.00. Following the purchase, the insider now owns 4,000,215 shares in the company, valued at $80,004,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total value of $951,719.28. Following the completion of the transaction, the insider now owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Keith A. Hutton bought 878,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the purchase, the insider now owns 4,000,215 shares in the company, valued at $80,004,300. The disclosure for this purchase can be found here. Insiders sold a total of 137,878 shares of company stock worth $2,583,684 over the last ninety days.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 12.90%. This is a boost from TXO Partners’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, May 17th. TXO Partners’s dividend payout ratio is -44.44%.

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.