In a challenging year for energy markets, TXO Energy Partners LP (TXO) stock has touched a 52-week low, dipping to $17.08. The $716 million market cap company stands out for its substantial 13.26% dividend yield, with a dividend per share of $2.32. InvestingPro analysis suggests the stock is currently trading below its Fair Value. The company, which has navigated through volatile commodity prices and shifting investor sentiment, has seen its stock price fluctuate significantly over the past year, with revenue declining 13.79% in the last twelve months. This latest price level reflects a notable decline of 4.12% from the stock's value one year ago. Investors are closely monitoring TXO's performance as it adapts to the dynamic energy landscape and assesses the impact of global economic trends on its future growth prospects. InvestingPro subscribers can access 8 additional key insights about TXO's financial health and future outlook.
In other recent news, TXO Partners, a natural gas and crude petroleum company, has reported several significant developments. President of Production and Development, Gary D. Simpson, has established a trading plan for selling company stock in accordance with Rule 10b5-1 of the Securities Exchange Act of 1934. This plan, designed to facilitate the sale of common units of the Partnership to cover tax liabilities, will remain in effect until the final vesting or forfeiture of the phantom units.
TXO Partners also recently expanded its operational footprint with the acquisition of oil and gas assets in the Williston Basin of Montana and North Dakota. The assets, purchased from EMEP Acquisitions, LLC and VR4-ELM, LP, cost $241.8 million in cash and 2,500,000 common units in TXO Partners. Alongside this acquisition, the company amended its existing credit agreement, increasing aggregate commitments from $165.0 million to $275.0 million and extending the maturity date to late 2028.
In addition to these developments, TXO Partners raised $19.5 million before underwriting discounts and commissions through the sale of an additional 975,000 common units at $20.00 each. These funds are intended to partially fund acquisitions from Eagle Mountain Energy Partners and another private company. Raymond (NS:RYMD) James has been named as the sole book-running manager for the offering. These are among the recent developments that highlight TXO Partners' strategic growth and investment in its core business areas.
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