TXO Partners LP (TXO) closed at $14.49 in the latest trading session, marking a +1.68% move from the prior day. This move outpaced the S&P 500's daily gain of 0.37%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 0.71%.
The company's stock has climbed by 5.01% in the past month, exceeding the Oils-Energy sector's gain of 2.31% and the S&P 500's gain of 4.26%.
Market participants will be closely following the financial results of TXO Partners LP in its upcoming release. The company is forecasted to report an EPS of $0.08, showcasing a 700% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $99.66 million, indicating a 45% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $0.23 per share and a revenue of $387.8 million, demonstrating changes of -64.62% and +37.12%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for TXO Partners LP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. TXO Partners LP is holding a Zacks Rank of #5 (Strong Sell) right now.
Digging into valuation, TXO Partners LP currently has a Forward P/E ratio of 61.96. Its industry sports an average Forward P/E of 12.4, so one might conclude that TXO Partners LP is trading at a premium comparatively.
The Energy and Pipeline - Master Limited Partnerships industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 215, this industry ranks in the bottom 13% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
