Q3 2024 EPS Estimates for TXO Partners, L.P. Lowered by Capital One Financial (NYSE:TXO)

TXO Partners, L.P. (NYSE:TXO) – Research analysts at Capital One Financial cut their Q3 2024 earnings per share (EPS) estimates for shares of TXO Partners in a research note 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 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.09. The company had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%.

TXO Partners Trading Up 0.2 %

NYSE TXO opened at $20.80 on Monday. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. The stock has a 50 day simple moving average of $20.84 and a two-hundred day simple moving average of $19.79. The stock has a market cap of $643.55 million, a P/E ratio of -3.56 and a beta of 0.06.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. purchased a new position in TXO Partners during the fourth quarter valued at $4,346,000. Hsbc Holdings PLC purchased a new position in TXO Partners during the fourth quarter valued at $2,685,000. Energy Income Partners LLC lifted its position in TXO Partners by 37.7% during the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after purchasing an additional 135,029 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted 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 valued at $958,000 after purchasing an additional 42,533 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in TXO Partners during the fourth quarter valued at $690,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at TXO Partners

In related news, major shareholder Global Endowment Management, L sold 41,978 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.03, for a total transaction of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, major shareholder Global Endowment Management, L sold 41,978 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $18.03, for a total transaction of $756,863.34. Following the completion of the transaction, the insider now owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Bob R. Simpson bought 100,000 shares of TXO Partners stock in a transaction on Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the acquisition, the chief executive officer now owns 4,500,000 shares in the company, valued at approximately $90,000,000. The disclosure for this purchase can be found here. In the last quarter, insiders sold 137,878 shares of company stock valued at $2,583,684.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Monday, May 20th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, May 17th. This represents a $2.60 annualized dividend 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 is currently -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.