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FORT WORTH, Texas - TXO Partners, L.P. (NYSE:TXO), a master limited partnership in the energy sector currently trading at $15.30 near its 52-week low, has announced its dual listing on the newly established NYSE Texas. This move makes TXO Partners, with its market capitalization of $835 million, a founding member of the electronic equities exchange based in Dallas, while it continues to maintain its primary listing on the New York Stock Exchange.
The company’s executives expressed enthusiasm for the initiative, highlighting their Texas roots and longstanding relationship with the NYSE, dating back to 1980. Gary D. Simpson, Co-Chief Executive Officer of TXO, described the venture as a bold initiative for both the exchange and TXO Partners in their home state of Texas. Brent W. Clum, Co-CEO and CFO, echoed this sentiment, emphasizing the company’s pride in being Texas-based and its role within the energy sector.
Chris Taylor, Chief Development Officer of NYSE Group, welcomed TXO Partners to NYSE Texas, noting the partnership as a testament to both organizations’ commitment to innovation in the Texas capital markets.
TXO Partners specializes in the acquisition, development, optimization, and exploitation of oil, natural gas, and natural gas liquid reserves in North America. The company’s operations are primarily concentrated in the Permian Basin, San Juan Basin, and Williston Basin. According to InvestingPro data, TXO maintains a moderate debt level and offers an attractive 16% dividend yield, though recent analysis indicates the company is experiencing significant cash burn.
The press release also included a cautionary note regarding forward-looking statements, reminding readers that such statements involve risks and uncertainties and that actual results may differ from those projected.
This dual listing is based on a press release statement and represents a strategic move for TXO Partners, reinforcing its presence in the energy industry and capital markets within Texas. Analysts maintain a positive outlook, with price targets ranging from $20 to $24. For comprehensive analysis and additional insights, including 8 more exclusive ProTips, visit InvestingPro.
In other recent news, TXO Partners, L.P. has announced a public offering of $175 million in common units, priced at $15.00 per unit. The company expects to net approximately $165.3 million from this offering, which will partially fund the acquisition of assets from White Rock Energy, LLC. The acquisition, valued at $350 million, involves producing assets in the Elm Coulee field in the Williston Basin. TXO Partners aims to close this transaction in the third quarter of 2025, with North Hudson Resource Partners acquiring a 30% non-operated interest. Additionally, Stifel has reinstated coverage of TXO Energy Partners with a Buy rating and a $20 price target, citing the company’s experienced leadership and low debt. TXO Partners has also expanded its leadership team by appointing Lawrence S. Massaro to its Board of Directors. Massaro brings over 40 years of experience in the energy sector and will participate in the company’s non-employee director compensation program. Furthermore, Co-CEOs Brent W. Clum and Gary D. Simpson received awards under the 2023 Long-Term Incentive Plan, reflecting TXO’s strategic efforts to enhance governance and operations.
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