TXO Partners, L.P. (NYSE:TXO) Expected to Earn Q2 2024 Earnings of $0.21 Per Share

TXO Partners, L.P. (NYSE:TXO) – Capital One Financial reduced their Q2 2024 earnings per share (EPS) estimates for TXO Partners in a note issued to investors on Wednesday, July 3rd. Capital One Financial analyst P. Johnston now expects that the company will post earnings of $0.21 per share for the quarter, down from their prior forecast of $0.32. The consensus estimate for TXO Partners’ current full-year earnings is $1.64 per share. Capital One Financial also issued estimates for TXO Partners’ Q4 2024 earnings at $0.59 EPS, Q2 2025 earnings at $0.61 EPS, Q3 2025 earnings at $0.62 EPS and FY2025 earnings at $2.45 EPS.

TXO Partners Stock Performance

Shares of TXO stock opened at $20.52 on Monday. The firm has a fifty day moving average price of $20.80 and a 200 day moving average price of $20.00. The company has a market cap of $634.85 million, a P/E ratio of -3.51 and a beta of 0.05. TXO Partners has a 12 month low of $17.20 and a 12 month high of $23.56. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.24 by $0.09. The business 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%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently modified their holdings of the company. 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 purchasing an additional 42,533 shares during the last quarter. Hsbc Holdings PLC purchased a new position in TXO Partners in the 4th quarter worth approximately $2,685,000. King Luther Capital Management Corp grew its holdings in TXO Partners by 0.6% during 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 in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of TXO Partners during the fourth quarter valued at about $690,000. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in TXO Partners during the 4th quarter worth approximately $4,346,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

Insider Buying and Selling

In other TXO Partners news, insider Keith A. Hutton bought 878,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost 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 approximately $80,004,300. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Keith A. Hutton bought 878,000 shares of the stock in a transaction on Friday, June 28th. The shares were bought at an average price of $20.00 per share, with a total value of $17,560,000.00. Following the completion of the acquisition, the insider now owns 4,000,215 shares of the company’s stock, valued at $80,004,300. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Wednesday, May 22nd. The stock was 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 approximately $57,309,966. The disclosure for this sale can be found here. Insiders have sold a total of 137,878 shares of company stock valued at $2,583,684 over the last quarter.

TXO Partners Increases Dividend

The firm also recently announced 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 is a positive change from TXO Partners’s previous quarterly dividend of $0.58. This represents a $2.60 dividend on an annualized basis and a dividend yield of 12.67%. TXO Partners’s dividend payout ratio (DPR) 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.