Brokers Offer Predictions for TXO Partners, L.P.’s Q3 2024 Earnings (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO) – Research analysts at Capital One Financial reduced their Q3 2024 earnings per share estimates for shares of TXO Partners in a report issued on Friday, June 28th. Capital One Financial analyst P. Johnston now forecasts that the company will earn $0.29 per share for the quarter, down from their prior forecast of $0.34. The consensus estimate for TXO Partners’ current full-year earnings is $1.35 per share. Capital One Financial also issued estimates for TXO Partners’ FY2024 earnings at $1.50 EPS.

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

TXO Partners Price Performance

TXO opened at $20.80 on Monday. The stock has a market cap of $643.55 million, a P/E ratio of -3.56 and a beta of 0.06. TXO Partners has a 12 month low of $17.20 and a 12 month high of $23.56. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. The company has a fifty day simple moving average of $20.84 and a 200 day simple moving average of $19.79.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a dividend of $0.65 per share. The ex-dividend date was Friday, May 17th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.50%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58. TXO Partners’s dividend payout ratio (DPR) is currently -44.44%.

Insider Activity

In related news, major shareholder Global Endowment Management, L sold 24,148 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the sale, the insider now directly owns 1,112,219 shares in the company, valued at $20,297,996.75. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TXO Partners news, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $21.24, for a total transaction of $212,400.00. Following the completion of the transaction, the director now owns 2,561,530 shares of the company’s stock, valued at approximately $54,406,897.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Global Endowment Management, L sold 24,148 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the transaction, the insider now owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The disclosure for this sale can be found here. Insiders have sold 137,878 shares of company stock worth $2,583,684 in the last 90 days.

Hedge Funds Weigh In On TXO Partners

A number of large investors have recently modified their holdings of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of TXO Partners by 418.8% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after acquiring an additional 42,533 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in TXO Partners in the 4th quarter valued at about $690,000. King Luther Capital Management Corp grew its holdings in TXO Partners by 0.6% during the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock worth $47,114,000 after purchasing an additional 15,000 shares during the period. Hsbc Holdings PLC acquired a new position in TXO Partners during the fourth quarter worth approximately $2,685,000. Finally, Brown Brothers Harriman & Co. bought a new stake in TXO Partners in the fourth quarter valued at approximately $183,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Company Profile

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.