Capital One Financial Comments on TXO Partners, L.P.'s Q3 2024 Earnings (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO - Free Report) - Stock analysts at Capital One Financial decreased their Q3 2024 earnings estimates for shares of TXO Partners in a research report issued to clients and investors 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 prior estimate of $0.36. The consensus estimate for TXO Partners' current full-year earnings is $1.28 per share.

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

TXO Partners Stock Performance

Shares of TXO Partners stock traded up $0.16 during trading hours on Thursday, reaching $20.16. The company's stock had a trading volume of 151,000 shares, compared to its average volume of 75,174. The company's 50 day simple moving average is $20.90 and its 200 day simple moving average is $19.73. 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 one year low of $17.20 and a one year high of $23.56. The stock has a market cap of $623.75 million, a P/E ratio of -3.45 and a beta of 0.10.

TXO Partners Increases Dividend

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

Insider Transactions at TXO Partners

In other news, Director Luther King, Jr. sold 10,000 shares of the business's stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Luther King, Jr. sold 10,000 shares of the business's stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the transaction, the director now owns 2,581,530 shares of the company's stock, valued at $57,309,966. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith A. Hutton bought 878,000 shares of the company's stock in a transaction that occurred on Friday, June 28th. The shares were bought at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the transaction, the insider now directly owns 4,000,215 shares of the company's stock, valued at approximately $80,004,300. The disclosure for this purchase can be found here. Over the last three months, insiders sold 137,878 shares of company stock worth $2,583,684.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently bought and sold shares of TXO. Raymond James Financial Services Advisors Inc. increased its position in 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 acquiring an additional 42,533 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in TXO Partners in the 4th quarter valued at $690,000. King Luther Capital Management Corp increased 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 buying an additional 15,000 shares during the period. Hsbc Holdings PLC bought a new stake in TXO Partners in the 4th quarter valued at $2,685,000. Finally, Brown Brothers Harriman & Co. bought a new stake in TXO Partners in the 4th quarter valued at $183,000. Institutional investors own 27.44% of the company's stock.

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.