The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. TXO Partners L.P shares valued at $17,560,000 were purchased by HUTTON KEITH A on Jun 28 ’24. At $20.00 per share, HUTTON KEITH A acquired 878,000 shares. The insider’s holdings grew to 4,000,215 shares worth approximately $70.8 million following the completion of this transaction.
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Also, SIMPSON BOB R purchased 100,000 shares, netting a total of over 2,000,000 in proceeds. Following the buying of shares at $20.00 each, the insider now holds 4,500,000 shares.
Before that, King Luther Jr had sold 10,000 shares from its account. In a trade valued at $212,428, the Director traded TXO Partners L.P shares for $21.24 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $45.34 million.
As published in their initiating research note from Stifel on February 21, 2023, TXO Partners L.P [TXO] has been a Buy and the price target has been revised to $31. Analysts at Raymond James started covering the stock with ‘”a Strong buy”‘ outlook in a report released in late February. As of February 21, 2023, CapitalOne has initiated its “an Overweight” rating for TXO.
Analyzing TXO Stock Performance
During the last five days, there has been a drop of approximately -1.72%. Over the course of the year, TXO Partners L.P shares have dropped approximately -2.64%. Shares of the company reached a 52-week high of $23.56 on 05/16/24 and a 52-week low of $17.20 on 02/06/24. A 50-day SMA is recorded $18.86, while a 200-day SMA reached $19.37. Nevertheless, trading volume fell to 84422.0 shares from 74500.0 shares the previous day.
Support And Resistance Levels for TXO Partners L.P (TXO)
According to the 24-hour chart, there is a support level at 17.42, which, if violated, would cause prices to drop to 17.14. In the upper region, resistance lies at 17.93. The next price resistance is at 18.15. RSI (Relative Strength Index) is 33.68 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.59, which suggests the price will decrease in the coming days. Percent R is at 83.57%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
