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TXO Partners, L.p. (TXO) stock

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NYSE: TXO NYSE Oil & Gas Exploration & Production Next results ~November 3, 2026

D Fundamentals grade

TXO Partners, L.p. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

~$24

Cash-flow model

Base case. Range ~$17–$33 across our lower- and higher-growth cases (8%–18% a year).

Price vs value

Undervalued

The price is below our entire value range; our base value is 76% above it.

Price used: $13.61, November 2, 2026

TXO Partners, L.p. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders3 buying, 3 selling23 purchases and 5 sales by directors and officers, last 12 monthsInsider trades
  • Funds22 adding, 29 cuttingOf 3 active managers that changed their stake, 2 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter TXO Partners files

Where TXO Partners, L.p. stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $497m, up 49.6% on a year earlier, faster than the 45.6% growth a quarter earlier. That growth ranks 4 of 33 among the oil & gas exploration & production companies we cover. Free-cash-flow margin fell to 7.4% from 13.2% a year earlier. Operating margin narrowed to -8.7% from -2.0%. The diluted share count is up 28.8% on a year earlier, which dilutes existing holders. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 2 of our 4 financial-health checks. Our cash-flow model value is $28.18 a share, against a share price of $14.14.

Source: 10-Q filed August 4, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 3, 2026 (estimated)

TXO Partners, L.p.'s trailing-twelve-month revenue grew 49.6% year on year, with a free-cash-flow margin of 7.4%. Where it stands out: revenue growth of 49.6% ranks 4 of 57 oil & gas exploration & production companies we cover. Where it lags: change in share count of 28.8% ranks 44 of 48 oil & gas exploration & production companies we cover.

Our discounted-cash-flow model values the business at ~$24 per share in the base case (~$17–$33 across growth scenarios) — model values under stated assumptions, not a price target.

Current signal Revenue growth accelerating: TTM revenue growth rose to 49.6% (+4.1pp vs the prior quarter).

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Priced below our value. The share price of $13.61 is 31% below our value per share of $18.
  • Fast growth. Revenue grew 49.6% over the last 12 months, against a median of 10.6% for oil & gas exploration & production companies we cover.
  • Growth speeding up. The growth rate is 4.1 points higher than a quarter earlier.
  • Estimates rising. Analysts' consensus for next year's earnings per share has risen 102.3% over 90 days.

Things to watch

  • Loss-making. Operating margin is -8.7%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 6.6 points on a year ago.
  • Share dilution. Diluted shares rose 28.8% in a year.
  • Below peers: stock pay as % of revenue. Stock pay as % of revenue of 2.7% ranks 37 of 47 oil & gas exploration & production companies we cover (median 1.2%).

Latest results: FY2026 Q2

Filed August 4, 2026
Earnings per share
$0.35 against an average estimate of $0.10: beat by 228.8%
Revenue
$151m, up 67.9% on a year earlier
Next report
November 3, 2026; average EPS estimate $0.20

TXO Partners' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-3.0%
  • 1 week-4.6%
  • 1 month-1.8%
  • This year+38.3%
  • 1 year+15.4%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

Loading chart…

Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$497M
Operating margin
-8.7%
Net margin
-7.5%
EPS (TTM, diluted)
$-0.68

Growth

Revenue growth
+49.6%
Change in growth rate
+4.1 pts
Share count change
+28.8%

Cash

Free cash flow (TTM)
$37M
FCF margin
7.4%
Stock pay % of revenue
2.7%

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Insider trade
  2. Insider trade
  3. Insider trade
  4. Announcement

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

TXO Partners, L.p. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03
Hold12-month view
12-month price target
~$18
Price used
$13.57close November 3, 2026
Implied change
▲ +32%
Uncertainty
Medium

How we got here: the combined value of 3 valuation models built for a business like TXO Partners, L.p. (see the models table below and how they are combined) , with a 7.48% cost of equity. The models span ~$15–~$24; that spread sets a 25% margin before we rate Buy or Sell.

Produced by Fundamentalytics' automated valuation model on November 3, 2026, using delayed market prices. Rating meanings, methodology and conflicts: recommendations disclosure and research disclaimer. General research, not personal advice — it does not consider your circumstances. Prices can fall as well as rise.

Our value per share comes from a discounted-cash-flow model of TXO Partners, L.p.'s free cash flow after stock-based pay ( $56.9M, FY2026 Q2 TTM, with after-tax interest added back): growth for five years as below (the first two years from forecasts, guidance and the company's record), fading to 2.5%, discounted at 8.5%, then cash added and debt and other claims subtracted. These are model values under stated assumptions, not price targets or recommendations.

Valuation models

We value TXO Partners, L.p. as an oil and gas producer, with every model that fits that kind of business. Cost of equity 7.5%: the 10-year Treasury yield (4.9%) plus a beta of 0.56 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Proved-reserve net asset value The SEC standardised measure of the company's proved oil and gas reserves (future net cash flows after tax at SEC average prices, discounted at 10%) less debt and other claims, per share. ~$16 Primary model, counts double
Cash-flow model (DCF) Free cash flow to the firm (after stock pay, with after-tax interest added back), grown then faded to 2.5%, discounted at 8.5% as the firm rate, less debt and other claims. ~$24 ~$17–$33 Included
Forward price-to-earnings vs peers Next year's consensus earnings per share times peers' typical (harmonic-mean) forward price-to-earnings. Uses analysts' consensus estimates (third-party data), not our forecasts. ~$15 ~$11–$23 Included
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: book value or earnings not available
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: return on equity is not positive
Combined value Weighted average of the models that apply: the primary model (proved-reserve net asset value) counts double. Models more than 5x or less than 0.2x the share price, or more than 3x away from the other models' median, are left out. ~$18 ~$15–$24 3 models

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare TXO Partners, L.p. with oil and gas producers in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

What moves the value

  • Revenue growth 5 points lower ▼ −25%
  • Revenue growth 5 points higher ▲ +33%
  • Free-cash-flow margin 1 point lower ▼ −10%
  • Last year's free-cash-flow margin change, if it persists ▼ −36%
  • Discount rate 1 point higher ▼ −17%
Value per share under different assumptions
Discount rate ↓ / growth → −5% growth0% growth5% growth10% growth15% growth20% growth
7% $12$17$24$33$45$60
8.5% $8$12$17$23$32$43
10% $6$9$13$18$24$32

Valuation multiples over time Market data may be delayed

At fiscal year end 202320242025Now
Share price$13.07$13.66$9.84$13.61
Market value$396m$494m$490m$751m
+ Net debt (− = net cash)$24m$150m$282m$163m
Enterprise value$419m$643m$772m$914m
Multiples
Price / sales 1.0x1.7x1.2x1.5x
Price / earnings —21.0x——
Price / free cash flow ————
EV / EBITDA —14.1x11.7x14.5x

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 3, 2026, after the close. Analysts expect revenue of $99m and EPS of $0.20 (range $0.04 to $0.55) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current $0.72 +72% $437m +9%
Next $1.96 +171% $474m +9%

Next year's EPS estimate has moved +102.3% in 90 days, across 4 analysts.

How the EPS forecast has moved

The consensus EPS forecast for the current fiscal year is −288.3% on 90 days ago. In the last 30 days, 1 analyst raised TXO Partners, L.p.'s forecast and 0 cut it.

Consensus EPS forecast TXO Partners, L.p., last 90 days
−$1.00 $0.00 $1.00 $2.00 90 days ago 60 days ago 30 days ago 7 days ago Now Current fiscal year, 90 days ago: −$0.39 Current fiscal year, 60 days ago: −$0.16 Current fiscal year, 30 days ago: $0.48 Current fiscal year, 7 days ago: $0.65 Current fiscal year, Now: $0.72 $0.72 Next fiscal year, 90 days ago: $0.97 Next fiscal year, 60 days ago: $1.14 Next fiscal year, 30 days ago: $1.31 Next fiscal year, 7 days ago: $1.92 Next fiscal year, Now: $1.96 $1.96

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
90 days ago −$0.39$0.97
60 days ago −$0.16$1.14
30 days ago $0.48$1.31
7 days ago $0.65$1.92
Now $0.72$1.96

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 $0.10 $0.35 +228.8%
Mar 2026 −$0.05 $0.02 +148.8%
Dec 2025 $0.10 $0.43 +352.1%
Sept 2025 $0.01 −$0.05 −1132.0%

Adjusted EPS as companies report it, against the average analyst estimate.

How our valuation uses these forecasts

Our cash-flow model grows TXO Partners, L.p.'s revenue by -0.4% next year and +11.8% the year after, then fades back toward its own record by year five. Next year's rate weighs analysts' consensus (-8.4%, weight 62%) and the company's own record (+13.0%, weight 38%) . How the weights are set.

Analyst recommendations

4 analysts, Oct 2026
Buy4100%
Hold00%
Sell00%

Monthly trend

  1. Oct 202644
  2. Sep 202633
  3. Aug 202633
  4. Jul 202633

Counts of recommendations published by analysts covering TXO Partners, L.p., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
1.0%
of tradable shares
Days to cover
2.89
at average volume
Short interest, 1 month
−50%
to October 15, 2026
Held by institutions
25%
of shares
Held by insiders
30.1%
of shares
Employees
224
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

What moved the share price

Last 12 months +15.4%

$11.80 on October 31, 2025 to $13.61

ThenNowEffect
Revenue (last 12 months) $332m $497m +49.6%
P/S multiple 1.5x 1.5x −0.7%
Share count 43m 55m −22.4%

Biggest factor: revenue. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202420252026 to date
Return
TXO+5%−28%+38%
Industry peers (median)+1%−15%+17%
S&P 500+25%+18%+11%
Months that ended higher
TXO50%42%64%
S&P 50075%75%46%
Largest fall from a high during the year
TXO−27%−42%−13%
S&P 500−8%−19%−9%

Worst fall since January 27, 2023: 46% from May 20, 2024 to January 7, 2026. Getting back needed a 87% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$9.36 – $15.44
From 52-week high
−11.9%
vs 50-day average
−5.4%
vs 200-day average
+7.2%
Volatility (1 year)
26%
Beta vs S&P 500
-0.31

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Options strategies

All options ideas

How TXO Partners, L.p.’s listed options are priced, and three ways to use them that follow from our valuation. Quotes are delayed, read November 2, 2026. Check the live chain at your broker before trading.

Cash-secured put

Not offered: fundamentals grade D (needs B+ or better).

We suggest selling a put only on well-rated companies, at a strike where the price you would pay if assigned (strike less premium) is at or below our fair value.

Covered call

Not offered: no liquid call at or above our price target — the model says the upside is worth more than any listed strike.

For holders: sell a call at a strike at or above our fair value, so the shares are only sold at a price the model calls full value.

Collar

Not offered: the shares trade below our fair value: a collar caps upside the model expects.

For holders of a stock trading at or above our fair value: buy a put for a floor and sell a call to pay for it.

General research, not personal advice. Options can lose you more than you expect and are not suitable for everyone: put sellers can be made to buy shares that keep falling, call sellers give up gains above the strike, and results or news can move prices sharply. Chances shown are approximations from each option’s delta. Spreads, fees and early assignment are not modelled.

TXO Partners, L.p. in five measures

Fundamentals grade D
Growth Profitability Cash Balance sheet Value

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) TXO Partners, L.p.
$200M $300M $400M $500M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $331.1M Revenue (TTM), FY23 Q4: $380.7M Revenue (TTM), FY24 Q1: $289.8M Revenue (TTM), FY24 Q2: $286.6M Revenue (TTM), FY24 Q3: $285.5M Revenue (TTM), FY24 Q4: $282.8M Revenue (TTM), FY25 Q1: $299.7M Revenue (TTM), FY25 Q2: $332.3M Revenue (TTM), FY25 Q3: $364.4M Revenue (TTM), FY25 Q4: $401M Revenue (TTM), FY26 Q1: $436.2M Revenue (TTM), FY26 Q2: $497.2M $497.2M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $331.1M
FY23 Q4 $380.7M
FY24 Q1 $289.8M
FY24 Q2 $286.6M
FY24 Q3 $285.5M
FY24 Q4 $282.8M
FY25 Q1 $299.7M
FY25 Q2 $332.3M
FY25 Q3 $364.4M
FY25 Q4 $401M
FY26 Q1 $436.2M
FY26 Q2 $497.2M
Revenue growth, TTM YoY TXO Partners, L.p.
-40% -20% 0% 20% 40% 60% FY23 Q4 FY24 Q2 FY24 Q4 FY25 Q2 FY25 Q4 FY26 Q2 Revenue growth, TTM YoY, FY23 Q4: 7.9% Revenue growth, TTM YoY, FY24 Q1: -30.1% Revenue growth, TTM YoY, FY24 Q2: -25.0% Revenue growth, TTM YoY, FY24 Q3: -13.8% Revenue growth, TTM YoY, FY24 Q4: -25.7% Revenue growth, TTM YoY, FY25 Q1: 3.4% Revenue growth, TTM YoY, FY25 Q2: 15.9% Revenue growth, TTM YoY, FY25 Q3: 27.7% Revenue growth, TTM YoY, FY25 Q4: 41.8% Revenue growth, TTM YoY, FY26 Q1: 45.6% Revenue growth, TTM YoY, FY26 Q2: 49.6% 49.6%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q4 7.9%
FY24 Q1 -30.1%
FY24 Q2 -25.0%
FY24 Q3 -13.8%
FY24 Q4 -25.7%
FY25 Q1 3.4%
FY25 Q2 15.9%
FY25 Q3 27.7%
FY25 Q4 41.8%
FY26 Q1 45.6%
FY26 Q2 49.6%
Operating margin (TTM) TXO Partners, L.p.
-100% -50% 0% 50% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: 14.3% Operating margin (TTM), FY23 Q4: -32.5% Operating margin (TTM), FY24 Q1: -69.0% Operating margin (TTM), FY24 Q2: -70.2% Operating margin (TTM), FY24 Q3: -73.8% Operating margin (TTM), FY24 Q4: -2.4% Operating margin (TTM), FY25 Q1: -4.4% Operating margin (TTM), FY25 Q2: -2.0% Operating margin (TTM), FY25 Q3: 0.5% Operating margin (TTM), FY25 Q4: -7.6% Operating margin (TTM), FY26 Q1: -24.0% Operating margin (TTM), FY26 Q2: -8.7% -8.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 14.3%
FY23 Q4 -32.5%
FY24 Q1 -69.0%
FY24 Q2 -70.2%
FY24 Q3 -73.8%
FY24 Q4 -2.4%
FY25 Q1 -4.4%
FY25 Q2 -2.0%
FY25 Q3 0.5%
FY25 Q4 -7.6%
FY26 Q1 -24.0%
FY26 Q2 -8.7%
FCF margin (TTM) TXO Partners, L.p.
0% 10% 20% 30% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 14.6% FCF margin (TTM), FY23 Q4: 8.6% FCF margin (TTM), FY24 Q1: 14.3% FCF margin (TTM), FY24 Q2: 16.4% FCF margin (TTM), FY24 Q3: 14.2% FCF margin (TTM), FY24 Q4: 20.1% FCF margin (TTM), FY25 Q1: 17.1% FCF margin (TTM), FY25 Q2: 13.2% FCF margin (TTM), FY25 Q3: 11.4% FCF margin (TTM), FY25 Q4: 5.4% FCF margin (TTM), FY26 Q1: 3.9% FCF margin (TTM), FY26 Q2: 7.4% 7.4%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 14.6%
FY23 Q4 8.6%
FY24 Q1 14.3%
FY24 Q2 16.4%
FY24 Q3 14.2%
FY24 Q4 20.1%
FY25 Q1 17.1%
FY25 Q2 13.2%
FY25 Q3 11.4%
FY25 Q4 5.4%
FY26 Q1 3.9%
FY26 Q2 7.4%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-K/A, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 228 246 381 283 401 497
EBITDA 84 16 −79 46 66 63
Operating income 44 −26 −124 −7 −31 −43
Net income 52 −8 −104 23 −22 −37
Diluted EPS $2.10 −$0.31 −$3.44 $0.65 −$0.43 −$0.68
Growth (year on year)
Revenue — +7.9% +54.5% −25.7% +41.8% +49.6%
EBITDA — −81.3% −606.8% — +44.9% −7.1%
Operating income — −158.1% — — — —
Net income — −114.6% — — −192.0% −395.0%
Diluted EPS — −114.8% — — −166.2% −329.0%
Margins
EBITDA margin 36.8% 6.4% −20.9% 16.1% 16.5% 12.7%
Operating margin 19.4% −10.4% −32.5% −2.4% −7.6% −8.7%
Net margin 23.0% −3.1% −27.3% 8.3% −5.4% −7.5%
Cash flow
Cash from operations 74 136 77 109 118 143
Stock-based pay 2 0 3 6 16 13
Balance sheet
Cash 8 9 5 7 9 107
Total debt 0 120 28 157 291 270
Net debt (negative = net cash) −8 111 24 150 282 163
Diluted shares 25m 25m 30m 36m 50m 55m

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 4 checks passed · June 30, 2026
What it owns · $1.3bn
Short-term assets $179mLonger-term assets $1.1bn
What it owes, and who funded it · $171m
Short-term liabilities $171m
  • Short-term assets cover short-term liabilities $179m of assets due within a year against $171m of liabilities due within a year.
  • Short-term assets cover long-term liabilities Not assessable from the reported split. Not assessable.
  • More cash than debt $107m of cash against $270m of debt.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt $143m of operating cash flow against $270m of debt.
  • Operating profit covers interest at least five times over Operating income of −$43m against $22m of interest.

From TXO Partners, L.p.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+28.8%
year over year
Days sales outstanding
38 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in oil & gas exploration & production
Last 12 months unless stated TXO GRNT GPRK REPX BSM GFR Median
Revenue, last 12 months $497m $496m $493m $484m $524m $418m $1.4bn
Revenue growth, last 12 months 49.6% 14.6% −25.5% 23.2% 19.8% −27.6% 10.6%
Revenue growth, 3-year average 9.2% 4.7% — 13.3% −10.8% — 1.4%
Revenue growth, latest quarter 67.9% 36.7% — 94.2% −6.6% — 31.5%
Operating margin −8.7% 7.5% 22.4% 38.4% 56.4% — 21.1%
Operating margin, 3-year average −27.0% 15.4% 24.5% 39.4% 62.3% — 16.5%
Net margin −7.5% −5.6% 10.1% 24.5% 48.5% 8.1% 10.1%
Cash from operations / revenue 28.8% 51.7% 3.0% 49.4% 61.1% 23.4% 42.4%
Free-cash-flow margin 7.4% 31.6% −17.0% 48.4% 39.2% 4.2% 19.3%
Free-cash-flow margin, 3-year average 12.4% 44.7% 2.3% 51.5% 56.0% — 19.1%
Stock pay / revenue 2.7% 1.1% 0.9% 2.3% 2.0% 0.5% 1.5%
Change in share count 28.8% 0.2% −2.0% −0.1% — −99.9% 0.4%

Median of all 57 companies we cover in oil & gas exploration & production. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

57 oil & gas exploration & production companies
Measure Company Peer median Rank
Revenue growth Growth 49.6% 10.6% 4 of 57
Change in growth rate Growth +4.1pp +4.9pp 32 of 57
Operating margin Profitability -8.7% 19.9% 34 of 42
Net margin Profitability -7.5% 10.1% 43 of 57
Free-cash-flow margin Cash generation 7.4% 23.2% 37 of 51
Stock pay as % of revenue Cash generation 2.7% 1.2% 37 of 47
Long-term debt as % of assets Balance sheet 21.6% 17.6% 29 of 43
Change in share count Balance sheet 28.8% 0.4% 44 of 48
Days sales outstanding Balance sheet 38 days 41 days 19 of 42

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Products and services
Line of business Revenue Share YoY
Oil and Condensate $283M 70.6% ▲ 42.8%
Natural Gas Reserves $85.7M 21.4% ▲ 55.7%
Natural Gas Liquids Reserves $32.1M 8.0% ▲ 9.1%

From TXO Partners, L.p.'s 10-K filed February 26, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$166M
Institutions reporting
52
Shares held vs prior quarter
▼ 16.0%
Positions opened / closed
5 / 12

Top buyers and sellers, Q2 2026: 22 institutions bought and 29 sold ; the biggest buyer was Energy Income Partners, LLC (+187K shares) and the biggest seller CIBC Bancorp Usa Inc (−574K). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
King Luther Capital Management Corp $38.4M 3.1M 23.1% 0.0%
Energy Income Partners, LLC $20.5M 1.6M 12.3% ▲ 12.9%
CIBC Bancorp Usa Inc. $18.5M 1.5M 11.1% ▼ 28.0%
American Century Companies Inc $18M 1.4M 10.8% ▼ 2.9%
Morgan Stanley $10.9M 874K 6.6% ▼ 16.0%
Goldman Sachs Group Inc $6.7M 536K 4.0% ▼ 27.9%
ING Groep NV $6.7M 532K 4.0% ▲ 5.6%
Cushing Asset Management, LP Dba Nxg Investment Management $6.6M 531K 4.0% ▼ 8.6%
First Trust Advisors LP $6.2M 497K 3.7% ▼ 3.9%
Stifel Financial Corp $4.6M 370K 2.8% ▲ 10.3%
Pin Oak Investment Advisors Inc $4.5M 358K 2.7% ▼ 0.8%
Raymond James Financial Inc $4.5M 357K 2.7% ▲ 8.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not TXO Partners, L.p.'s complete shareholder register. Values are as reported by the filers .

Insider trading activity

Full insider history and chart
Insider purchases History → $36.7M 23 trades by 3 insiders, last 12 months Insider sales History → $1.1M 5 trades by 3 insiders · 100% under pre-set plans
Net ▲ $35.6M net buying
Insider Date Trade Shares Price Value
Simpson Bob R Director August 13, 2026 Buy 125,000 $14.32 $1.8M
Simpson Bob R Director August 12, 2026 Buy 25,000 $14.43 $360,750
Simpson Bob R Director August 11, 2026 Buy 100,000 $14.27 $1.4M
Simpson Bob R Director August 10, 2026 Buy 50,000 $14.17 $708,500
Simpson Bob R Director August 7, 2026 Buy 100,000 $13.52 $1.4M
Simpson Bob R Director June 23, 2026 Buy 63,282 $12.64 $799,884
Simpson Bob R Director June 22, 2026 Buy 36,718 $12.55 $460,811
Simpson Bob R Director June 3, 2026 Buy 369,153 $13.91 $5.1M
Simpson Bob R Director June 2, 2026 Buy 230,847 $13.41 $3.1M
Simpson Bob R Director May 27, 2026 Buy 65,592 $13.20 $865,814
Simpson Bob R Director May 26, 2026 Buy 34,408 $13.27 $456,594
Simpson Bob R Director May 22, 2026 Buy 104,451 $13.77 $1.4M

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on TXO Partners, L.p. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

TXO Partners, L.p. in brief

What does TXO Partners, L.p. do?
TXO Partners, L.p. is a US-listed company in the oil & gas exploration & production industry. Its financial year ends in December.
What is TXO Partners, L.p.'s stock ticker?
TXO Partners, L.p. trades under the ticker TXO on NYSE. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is TXO Partners, L.p.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, TXO Partners, L.p. reported revenue of $497M, 49.6% higher than a year earlier, according to its SEC filings.
What is TXO Partners, L.p.'s free cash flow?
TXO Partners, L.p.'s free-cash-flow margin is 7.4% of revenue over the trailing twelve months, ranking 37 of the 51 oil & gas exploration & production companies we cover.
What is TXO Partners, L.p.'s fair value (intrinsic value) per share?
Our discounted-cash-flow model of TXO Partners, L.p.'s free cash flow after stock-based pay gives ~$24 per share in the base case, and ~$17–$33 across growth scenarios. These are model values under stated assumptions — not a price target or a recommendation.
Who are TXO Partners, L.p.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are King Luther Capital Management Corp, Energy Income Partners, LLC and CIBC Bancorp Usa Inc. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
What is TXO Partners, L.p.'s market cap?
On November 2, 2026, TXO Partners, L.p.'s market capitalisation was about $751M and net debt of $163M. Market figures come from third-party market data and may be delayed.
Who are TXO Partners, L.p.'s competitors?
In our Oil & Gas Exploration & Production peer group, the companies closest to TXO Partners, L.p. are Granite Ridge Resources, Inc., Geopark Ltd, Riley Exploration Permian, Inc., Black Stone Minerals, L.p. and Greenfire Resources Ltd. The side-by-side comparison below sets their revenue, margins and growth against TXO Partners, L.p.'s.
Are insiders buying or selling TXO Partners, L.p. stock?
Over the last 12 months, TXO Partners, L.p.'s directors and officers reported 23 open-market purchases and 5 sales on Form 4. The insider trading page charts every trade.
When is TXO Partners, L.p.'s next earnings date?
Around November 3, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — TXO Partners, L.p. announces its own schedule.