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

TXO Partners, L.P. (NYSE:TXO) – Stock analysts at Capital One Financial lowered their Q3 2024 earnings per share (EPS) estimates for shares of TXO Partners in a research note issued to investors on Wednesday, June 26th. Capital One Financial analyst P. Johnston now anticipates that the company will earn $0.34 per share for the quarter, down from their prior estimate of $0.36. The consensus estimate for TXO Partners’ current full-year earnings is $1.28 per share.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.33 earnings per share 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 company had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million.

TXO Partners Stock Down 6.1 %

TXO opened at $20.60 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36. The business has a 50 day simple moving average of $20.99 and a 200-day simple moving average of $19.65. The stock has a market capitalization of $637.36 million, a P/E ratio of -3.52 and a beta of 0.10. TXO Partners has a 12 month low of $17.20 and a 12 month high of $23.56.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Energy Income Partners LLC lifted its stake 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 purchasing an additional 135,029 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in shares of TXO Partners by 35.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock worth $1,282,000 after purchasing an additional 18,755 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in shares of TXO Partners during the fourth quarter worth about $4,346,000. Brown Brothers Harriman & Co. acquired a new position in shares of TXO Partners during the fourth quarter worth about $183,000. Finally, Hsbc Holdings PLC acquired a new position in shares of TXO Partners during the fourth quarter worth about $2,685,000. Institutional investors and hedge funds own 27.44% of the company’s stock.

Insider Activity at TXO Partners

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

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 29th. Investors of record on Monday, May 20th were paid a $0.65 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 annualized dividend and a yield of 12.62%. The ex-dividend date of this dividend was Friday, May 17th. TXO Partners’s dividend payout ratio (DPR) is presently -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.