TXO TXO Partners, L.P. Common Units Representing Limited Partner Interests
NYSE · Energy · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Aug 4, 2026
$13.86
· of 52w range
· above low
· to high
$10.1252w low
$15.5852w high
P/E (TTM)
-18.0
EPS (TTM)
$-0.77
Revenue (TTM)
$406M
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52W Range
$10–$16
Analyst Rating
BUY
Price Target
$19
P/E
-18.0
ROE
·
Net Profit Margin
-9.2%
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TXO Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$13.86
P/E (TTM)
-18.0
EPS (TTM)
$-0.77
Revenue (TTM)
$406M
52W Range
$10–$16
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10-Year Performance Revenue, net income, margins and EPS trends
Revenue$401M2021-12-31 → 2025-12-31
EPS$-0.432021-12-31 → 2025-12-31
Net margin-9.2%2023-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | TXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | -18.05Y avg ≈-1.4 | ≈-1.4 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | TXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | -10.6%5Y avg ≈-14.2% | ≈-14.2% | 27.6% | Top tier | |
| EBITDA Margin (TTM) | 15.5%5Y avg ≈3.9% | ≈3.9% | 30.5% | Top tier | |
| Net Profit Margin (TTM) | -9.2%5Y avg ≈-8.1% | ≈-8.1% | 20.5% | Top tier | |
| ROA (TTM) | -3.3%5Y avg ≈-4.0% | ≈-4.0% | -0.27% | Below avg |
Financial Health Debt, liquidity, solvency — balance sheet strength
| Metric | 5Y trend | TXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Current Ratio (MRQ) | 1.15Y avg ≈1.0 | ≈1.0 | 1.1 | In line | |
| Quick Ratio | 0.45Y avg ≈0.7 | ≈0.7 | 0.6 | Strong liquidity |
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | TXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 41.8%5Y avg ≈19.6% | ≈19.6% | · | · | |
| Revenue CAGR 3Y | 17.6% | · | · | · | |
| EPS CAGR 3Y | -32.4% | · | · | · | |
| Net Income CAGR 3Y | -23.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | TXO | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.35Y avg ≈0.4 | ≈0.4 | 0.3 | In line | |
| Receivables Turnover | 8.75Y avg ≈8.5 | ≈8.5 | 7.7 | Top tier | |
| Revenue / Employee | ≈$1.8M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Annualized Payout≈$1.60
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Aug 14, 2026 | $0.40 | USD | ≈10.2% |
| May 15, 2026 | $0.36 | USD | ≈15.8% |
| Mar 10, 2026 | $0.30 | USD | ≈13.9% |
| Nov 14, 2025 | $0.35 | USD | ≈14.9% |
| Aug 15, 2025 | $0.45 | USD | ≈16.0% |
| May 16, 2025 | $0.61 | USD | ≈15.6% |
| Mar 14, 2025 | $0.61 | USD | ≈12.3% |
| Nov 15, 2024 | $0.58 | USD | ≈13.0% |
| Aug 20, 2024 | $0.57 | USD | ≈11.7% |
| May 17, 2024 | $0.65 | USD | ≈9.9% |
| Mar 14, 2024 | $0.58 | USD | ≈11.5% |
| Nov 16, 2023 | $0.52 | USD | ≈8.3% |
| Aug 17, 2023 | $0.48 | USD | ≈4.7% |
| May 19, 2023 | $0.50 | USD | ≈2.2% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-344.8%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $1.07 | $0.23 | 360.6% |
| March 31, 2026 | $-1.35 | $-0.05 | -2521.4% | |
| Dec. 31, 2025 | $0.27 | $0.09 | 184.5% | |
| Sept. 30, 2025 | $0.08 | $0.04 | 91.8% | |
| June 30, 2025 | $0.00 | $0.04 | -100.0% | |
| March 31, 2025 | $0.06 | $0.39 | -84.4% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue | $401M | $283M | $381M | $246M | |
| SG&A Expense | $21M | $15M | $8M | $2M | |
| Operating Expenses | $432M | $290M | $504M | $272M | |
| Operating Income | $-31M | $-7M | $-124M | $-26M | |
| Interest Expense | · | · | $4M | $8M | |
| Interest Income | $618.0K | $1M | $461.0K | $143.0K | |
| Other Non-op | $9M | $30M | $20M | $18M | |
| Net Income | $-22M | $23M | $-104M | $-8M | |
| EPS (Basic) | $-0.43 | $0.66 | $-3.44 | $-0.31 | |
| EPS (Diluted) | $-0.43 | $0.65 | $-3.44 | $-0.31 | |
| Shares (Basic) | 49,769,000 | 35,559,000 | 30,265,000 | 25,000,000 | |
| Shares (Diluted) | 49,769,000 | 36,132,000 | 30,265,000 | 25,000,000 | |
| EBITDA | $66M | $46M | $-79M | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Cash & Equivalents | $9M | $7M | $5M | $9M | |
| Receivables | $52M | $40M | $32M | $52M | |
| Other Current Assets | $15M | $11M | $12M | $11M | |
| Current Assets | $95M | $64M | $55M | $74M | |
| PP&E (Net) | $1.24B | $951M | $629M | $836M | |
| PP&E (Gross) | $2.44B | $2.02B | $1.64B | $1.58B | |
| Accum. Depreciation | $1.20B | $1.07B | $1.01B | $745M | |
| Other Non-current Assets | $19M | $15M | $11M | $14M | |
| Total Assets | $1.35B | $1.03B | $696M | $925M | |
| Accounts Payable | $28M | $18M | $9M | $15M | |
| Accrued Liabilities | $46M | $39M | $23M | $34M | |
| Current Liabilities | $154M | $66M | $39M | $147M | |
| Other Non-current Liabilities | $218M | $198M | $155M | $136M | |
| Long-term Debt | $291M | $157M | $28M | $120M | |
| Liabilities + Equity | $1.35B | $1.03B | $696M | $925M |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| D&A | $97M | $52M | $44M | $41M | |
| Stock-based Comp | $16M | $6M | $3M | $0 | |
| Other Non-cash | $19M | $34M | $140M | · | |
| Operating Cash Flow | $118M | $109M | $77M | $136M | |
| Investing Cash Flow | $-335M | $-288M | $-46M | $-87M | |
| Debt Issued | $406M | $251M | $86M | $1.46B | |
| Net Debt Issued | $134M | $129M | $-92M | · | |
| Financing Cash Flow | $219M | $182M | $-36M | $-48M | |
| Net Change in Cash | $2M | $3M | $-5M | $2M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Operating Margin | -7.6% | -2.4% | -32.5% | · | |
| Net Margin | -5.4% | 8.3% | -27.3% | · | |
| EBITDA Margin | 16.5% | 16.1% | -20.9% | · | |
| ROA | -1.8% | 2.7% | -12.8% | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Current Ratio | 0.6 | 1.0 | 1.4 | · | |
| Quick Ratio | 0.4 | 0.7 | 0.9 | · | |
| Interest Coverage | · | · | -28.0 | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Asset Turnover | 0.3 | 0.3 | 0.5 | · | |
| Receivables Turnover | 8.7 | 7.9 | 9.0 | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue / Share | $8.06 | $7.83 | $12.58 | · | |
| Cash Flow / Share | $2.37 | $3.02 | $2.55 | · | |
| EPS (TTM) | $-0.43 | $0.65 | $-3.44 | $-0.31 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue YoY | 41.8% | -25.7% | 54.5% | 7.9% | |
| Revenue CAGR 3Y | 17.6% | 7.4% | · | · | |
| EPS CAGR 3Y | · | -32.4% | · | · | |
| Net Income CAGR 3Y | · | -23.5% | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
| Revenue TTM | $401M | $283M | $381M | $246M | |
| Net Income TTM | $-22M | $23M | $-104M | $-8M | |
| P/E | -24.8 | 25.9 | -5.3 | · | |
| Earnings Yield | -4.0% | 3.9% | -18.9% | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $151M | $28M | $126M | $101M | $90M | $84M | $89M | $69M | $57M | $67M | $92M | $70M | $60M | $158M | $42M | $121M | |
| SG&A Expense | $5M | $5M | $5M | $5M | $9M | $2M | $4M | $3M | $5M | $3M | $3M | $2M | $1M | $2M | $1M | $84.0K | |
| Operating Expenses | $93M | $106M | $153M | $97M | $94M | $88M | $84M | $74M | $67M | $65M | $290M | $65M | $69M | $80M | $69M | $70M | |
| Operating Income | $58M | $-78M | $-27M | $4M | $-4M | $-4M | $6M | $-5M | $-10M | $3M | $-198M | $4M | $-9M | $79M | $-27M | $51M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | $976.0K | · | $1M | $618.0K | $1M | · | $2M | |
| Interest Income | $197.0K | $99.0K | $102.0K | $113.0K | $300.0K | $103.0K | $131.0K | $700.0K | $122.0K | $125.0K | $120.0K | $107.0K | $127.0K | $107.0K | $75.0K | $45.0K | |
| Other Non-op | $3M | $3M | $-1M | $592.0K | $4M | $6M | $5M | $5M | $13M | $8M | $4M | $4M | $6M | $5M | $5M | $5M | |
| Net Income | $61M | $-74M | $-28M | $4M | $-135.0K | $2M | $10M | $203.0K | $3M | $10M | $-194M | $8M | $-3M | $84M | $-22M | $56M | |
| EPS (Basic) | $1.10 | $-1.35 | $-0.57 | $0.08 | $0.00 | $0.06 | $0.23 | $0.01 | $0.09 | $0.33 | $-6.55 | $0.28 | $-0.08 | $2.91 | $-0.90 | $2.23 | |
| EPS (Diluted) | $1.07 | $-1.35 | $-0.57 | $0.08 | $0.00 | $0.06 | $0.22 | $0.01 | $0.09 | $0.33 | $-6.49 | $0.27 | $-0.08 | $2.86 | $-0.90 | $2.23 | |
| Shares (Basic) | 55,446,000 | 55,090,000 | · | 54,784,000 | 48,220,000 | 41,083,000 | · | 39,272,000 | 31,153,000 | 30,800,000 | · | 30,750,000 | 30,750,000 | 28,783,000 | · | 25,000,000 | |
| Shares (Diluted) | 56,682,000 | 55,090,000 | · | 55,807,000 | 48,220,000 | 41,814,000 | · | 39,828,000 | 31,708,000 | 31,425,000 | · | 31,285,000 | 30,750,000 | 29,328,000 | · | 25,000,000 | |
| EBITDA | $82M | $-49M | · | $27M | $18M | $18M | · | $9M | $225.0K | $13M | · | $15M | $3M | $90M | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $107M | $8M | $9M | $5M | $8M | $11M | $7M | $4M | $76M | $5M | · | $6M | $4M | $7M | · | · | |
| Receivables | $51M | $58M | $52M | $46M | $37M | $38M | $40M | $35M | $29M | $31M | · | $33M | $30M | $32M | · | · | |
| Other Current Assets | $13M | $18M | $15M | $15M | $14M | $13M | $11M | $11M | $13M | $13M | · | $11M | $10M | $14M | · | · | |
| Current Assets | $179M | $90M | $95M | $77M | $71M | $82M | $64M | $54M | $117M | $54M | · | $52M | $50M | $62M | · | · | |
| PP&E (Net) | $1.06B | $1.22B | $1.24B | $1.28B | $958M | $936M | $951M | $945M | $648M | $624M | · | $840M | $841M | $835M | · | · | |
| PP&E (Gross) | $1.30B | $2.45B | $2.44B | $2.42B | $2.07B | $2.02B | $2.02B | $1.99B | $1.68B | $1.65B | · | $1.62B | $1.61B | $1.59B | · | · | |
| Accum. Depreciation | $248M | $1.23B | $1.20B | $1.13B | $1.11B | $1.09B | $1.07B | $1.05B | $1.03B | $1.02B | · | $779M | $768M | $756M | · | · | |
| Other Non-current Assets | $16M | $16M | $19M | $15M | $18M | $16M | $15M | $17M | $10M | $11M | · | $9M | $10M | $10M | · | · | |
| Total Assets | $1.25B | $1.32B | $1.35B | $1.38B | $1.05B | $1.03B | $1.03B | $1.02B | $775M | $688M | · | $901M | $901M | $907M | · | · | |
| Accounts Payable | $33M | $39M | $28M | $30M | $19M | $20M | $18M | $14M | $9M | $8M | · | $11M | $10M | $15M | · | · | |
| Accrued Liabilities | $41M | $38M | $46M | $47M | $34M | $32M | $39M | $35M | $23M | $25M | · | $26M | $27M | $28M | · | · | |
| Current Liabilities | $171M | $210M | $154M | $161M | $73M | $82M | $66M | $53M | $36M | $40M | · | $61M | $53M | $63M | · | · | |
| Other Non-current Liabilities | $163M | $230M | $218M | $208M | $202M | $201M | $198M | $187M | $159M | $157M | · | $133M | $139M | $128M | · | · | |
| Long-term Debt | $270M | $277M | $291M | $271M | $19M | $162M | $157M | $155M | $7M | $26M | · | $25M | $21M | $7M | · | · | |
| Liabilities + Equity | $1.25B | $1.32B | $1.35B | $1.38B | $1.05B | $1.03B | $1.03B | $1.02B | $775M | $688M | · | $901M | $901M | $907M | · | · |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $24M | $29M | $30M | $24M | $22M | $21M | $18M | $14M | $10M | $11M | $11M | $11M | $12M | $11M | $11M | $11M | |
| Stock-based Comp | $3M | $4M | $3M | $3M | $7M | $2M | $2M | $2M | $2M | $1M | $939.0K | $940.0K | $952.0K | $639.0K | $0 | $0 | |
| Other Non-cash | · | $70M | · | · | · | $-2M | · | · | · | $3M | · | · | · | $-63M | · | · | |
| Operating Cash Flow | $49M | $33M | $32M | $28M | $27M | $31M | $41M | $21M | $23M | $25M | $17M | $24M | $18M | $17M | $33M | $35M | |
| Investing Cash Flow | $78M | $-4M | $-30M | $-256M | $-43M | $-7M | $-15M | $-235M | $-35M | $-3M | $-6M | $-12M | $-16M | $-12M | $-16M | $-63M | |
| Debt Issued | $21M | $23M | $45M | $272M | $52M | $36M | $29M | $161M | $51M | $10M | $22M | $16M | $11M | $37M | $362M | $348M | |
| Net Debt Issued | · | $-14M | · | · | · | $5M | · | · | · | $-2M | · | · | · | $-113M | · | · | |
| Financing Cash Flow | $-27M | $-31M | $1M | $225M | $13M | $-20M | $-22M | $142M | $84M | $-22M | $-13M | $-11M | $-5M | $-7M | $-18M | $30M | |
| Net Change in Cash | $100M | $-1M | $4M | $-3M | $-3M | $4M | $3M | $-72M | $71M | $65.0K | $-1M | $1M | $-3M | $-2M | $-2M | $3M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 38.2% | -274.3% | · | 3.7% | -4.1% | -4.2% | · | -7.2% | -17.6% | 4.0% | · | 6.3% | -14.5% | 49.8% | · | · | |
| Net Margin | 40.3% | -262.9% | · | 4.3% | -0.15% | 2.9% | · | 0.30% | 4.9% | 15.2% | · | 12.1% | -4.2% | 52.9% | · | · | |
| EBITDA Margin | 54.1% | -172.3% | · | 27.2% | 20.0% | 21.2% | · | 12.5% | 0.39% | 19.6% | · | 21.4% | 4.6% | 56.7% | · | · | |
| ROA | 5.3% | -6.3% | · | 0.36% | -0.01% | 0.28% | · | 0.02% | 0.34% | 1.3% | · | 1.9% | -0.57% | 18.5% | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.1 | 0.4 | · | 0.5 | 1.0 | 1.0 | · | 1.0 | 3.3 | 1.4 | · | 0.9 | 0.9 | 1.0 | · | · | |
| Quick Ratio | 0.9 | 0.3 | · | 0.3 | 0.6 | 0.6 | · | 0.7 | 2.9 | 0.9 | · | 0.6 | 0.7 | 0.6 | · | · | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | 2.8 | · | 3.6 | -14.2 | 54.8 | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.0 | · | 0.1 | 0.1 | 0.1 | · | 0.1 | 0.1 | 0.1 | · | 0.2 | 0.1 | 0.3 | · | · | |
| Receivables Turnover | 3.4 | 0.6 | · | 2.5 | 2.7 | 2.4 | · | 2.0 | 1.9 | 2.2 | · | 4.3 | 4.0 | 10.0 | · | · |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Share | $2.66 | $0.51 | · | $1.81 | $1.86 | $2.02 | · | $1.73 | $1.81 | $2.15 | · | $2.23 | $1.97 | $5.40 | · | · | |
| Cash Flow / Share | · | $0.61 | · | · | · | $0.73 | · | · | · | $0.80 | · | · | · | $0.58 | · | · | |
| EPS (TTM) | $-0.77 | $-1.84 | · | $0.36 | $0.29 | $0.38 | · | $-6.06 | $-5.80 | $-5.97 | · | $2.15 | $4.11 | $5.17 | · | · |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $406M | $345M | · | $364M | $332M | $300M | · | $285M | $287M | $290M | · | $331M | $382M | $414M | · | · | |
| Net Income TTM | $-37M | $-98M | · | $17M | $13M | $16M | · | $-180M | $-172M | $-178M | · | $67M | $115M | $142M | · | · | |
| P/E | -16.2 | -6.8 | · | 39.0 | 51.9 | 50.4 | · | -3.3 | -3.5 | -3.0 | · | 9.4 | 5.3 | 4.5 | · | · | |
| Earnings Yield | -6.2% | -14.6% | · | 2.6% | 1.9% | 2.0% | · | -30.6% | -28.8% | -33.3% | · | 10.6% | 19.0% | 22.4% | · | · |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $401M | $283M | $381M | $246M | $228M |
| Operating Margin % | -7.6% | -2.4% | -32.5% | · | · |
| Net Income | $-22M | $23M | $-104M | $-8M | $52M |
| Diluted EPS | $-0.43 | $0.65 | $-3.44 | $-0.31 | $2.10 |
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Current Ratio | 0.6 | 1.0 | 1.4 | · | · |
| Quick Ratio | 0.4 | 0.7 | 0.9 | · | · |
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 62 filers · $192.3M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
62
Value held
$192.3M
New positions
6
Exited positions
12
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 6 (-3 vs prior Q) | 12 (+6 vs prior Q) | 17 (-12 vs prior Q) | 22 (+8 vs prior Q) | -2.5M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| KING LUTHER CAPITAL MANAGEMENT CORP | $38,397,450 | 3,071,796 | 19.97% | Shares |
| CIBC Private Wealth Group LLC | $25,401,936 | 1,807,967 | 13.21% | Shares |
| Energy Income Partners, LLC | $20,456,526 | 1,636,522 | 10.64% | Shares |
| CIBC Bancorp USA Inc. | $18,458,288 | 1,476,663 | 9.60% | Shares |
| AMERICAN CENTURY COMPANIES INC | $18,031,000 | 1,442,480 | 9.38% | Shares |
| MORGAN STANLEY | $10,919,941 | 873,595 | 5.68% | Shares |
| GOLDMAN SACHS GROUP INC | $6,703,079 | 536,246 | 3.49% | Shares |
| ING GROEP NV | $6,650,000 | 532,000 | 3.46% | Shares |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT | $6,637,500 | 531,000 | 3.45% | Shares |
| FIRST TRUST ADVISORS LP | $6,215,937 | 497,275 | 3.23% | Shares |
| STIFEL FINANCIAL CORP | $4,624,500 | 369,957 | 2.40% | Shares |
| RAYMOND JAMES FINANCIAL INC | $4,458,606 | 356,688 | 2.32% | Shares |
| CITADEL ADVISORS LLC | $4,276,675 | 342,134 | 2.22% | Shares |
| Clear Street Derivatives LLC | $3,981,765 | 264,745 | 2.07% | Shares |
| WELLS FARGO & COMPANY/MN | $1,988,035 | 159,043 | 1.03% | Shares |
| CITADEL ADVISORS LLC | $1,771,250 | 141,700 | 0.92% | Call option |
| CITADEL ADVISORS LLC | $1,545,000 | 123,600 | 0.80% | Put option |
| UBS Group AG | $1,124,325 | 89,946 | 0.58% | Shares |
| Bramshill Investments, LLC | $1,101,538 | 88,123 | 0.57% | Shares |
| GLENMEDE TRUST CO NA | $1,040,587 | 83,247 | 0.54% | Shares |
| Glenmede Investment Management, LP | $1,022,544 | 72,779 | 0.53% | Shares |
| LuminArx Capital Management LP | $1,021,663 | 81,733 | 0.53% | Shares |
| JANE STREET GROUP, LLC | $641,250 | 51,300 | 0.33% | Call option |
| MARATHON CAPITAL MANAGEMENT | $625,000 | 50,000 | 0.33% | Shares |
| BANK OF AMERICA CORP /DE/ | $491,512 | 39,321 | 0.26% | Shares |
| HENNESSY ADVISORS INC | $487,500 | 39,000 | 0.25% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $323,750 | 25,900 | 0.17% | Call option |
| CHILDRESS CAPITAL ADVISORS, LLC | $314,050 | 25,124 | 0.16% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $305,000 | 24,400 | 0.16% | Put option |
| Waterway Wealth Management, LLC | $298,750 | 23,900 | 0.16% | Shares |
| JANE STREET GROUP, LLC | $297,500 | 23,800 | 0.15% | Put option |
| Mariner, LLC | $292,201 | 23,376 | 0.15% | Shares |
| Cannell & Spears LLC | $287,500 | 23,000 | 0.15% | Shares |
| Boston Partners | $264,030 | 21,122 | 0.14% | Shares |
| JANE STREET GROUP, LLC | $256,575 | 20,526 | 0.13% | Shares |
| Atria Wealth Solutions, Inc. | $229,050 | 15,000 | 0.12% | Shares |
| CWA Asset Management Group, LLC | $213,043 | 17,043 | 0.11% | Shares |
| Arrow Investment Advisors, LLC | $212,013 | 16,961 | 0.11% | Shares |
| Financial Symmetry Inc | $157,100 | 12,568 | 0.08% | Shares |
| Apollon Wealth Management, LLC | $155,100 | 12,408 | 0.08% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $152,125 | 12,170 | 0.08% | Shares |
| HighTower Advisors, LLC | $139,622 | 11,170 | 0.07% | Shares |
| THURSTON, SPRINGER, MILLER, HERD & TITAK, INC. | $74,425 | 5,954 | 0.04% | Shares |
| VIRTUS ADVISERS, LLC | $64,800 | 5,184 | 0.03% | Shares |
| CWM, LLC | $59,091 | 4,697 | 0.03% | Shares |
| ROYAL BANK OF CANADA | $29,000 | 2,309 | 0.02% | Shares |
| OSAIC HOLDINGS, INC. | $27,276 | 2,182 | 0.01% | Shares |
| HARBOUR INVESTMENTS, INC. | $20,000 | 1,600 | 0.01% | Shares |
| Osbon Capital Management LLC | $14,712 | 1,177 | 0.01% | Shares |
| Larson Financial Group LLC | $11,930 | 954 | 0.01% | Shares |
Activists & 5%+ owners 3 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| Bob R. Simpson ×3 filings | June 4, 2026 | 16.20% | Amendment | · | SEC |
| Keith A. Hutton ×2 filings | May 19, 2025 | 9.10% | Amendment | · | SEC |
| LKCM Investment Partnership, L.P., LKCM Private Discipline Master Fund, SPC / PDLP Morningstar, LLC, Luther King Capital Management Corporation, J. Luther King, Jr. | May 19, 2025 | 7.20% | Initial filing | Passive investment | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 12 insiders · 3 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Brent W. Clum | Co-CEO and CFO | April 1, 2026 S | 800,340 | 0 | 2 | $-573,379 |
| Gary D. Simpson | Co-Chief Executive Officer | April 1, 2026 S | 581,018 | 0 | 2 | $-435,238 |
| Scott T. Agosta | Chief Accounting Officer | Jan. 31, 2026 S | 205,474 | 0 | 1 | $-129,016 |
| William H Adams III | Director | May 8, 2026 P | 128,951 | 1 | 0 | $124,100 |
| Keith A. Hutton | Director | March 27, 2026 G | 4,100,215 | 0 | 0 | $0 |
| Richard Jacob Settle | Director | Jan. 31, 2026 A | 37,383 | 0 | 0 | $0 |
| Lawrence S Massaro | Director | Jan. 31, 2026 A | 34,567 | 0 | 0 | $0 |
| Luther J King JR | Director | Jan. 31, 2024 A | 743,444 | 0 | 0 | $0 |
| Global Endowment Management, LP | 10% owner | May 6, 2024 S | 1,089,868 | 0 | 0 | $0 |
| Bob R. Simpson | · | Aug. 13, 2026 P | 9,500,000 | 21 | 0 | $36,591,559 |
| J. Luther King, Jr. | · | Jan. 31, 2026 A | 751,111 | 0 | 0 | $0 |
| KEVIL PHILLIP R | · | Jan. 31, 2026 A | 40,051 | 1 | 0 | $23,800 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 2 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
TXO Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 8 analysts
BUY
Median target
$20.00
+44.3%
3 37.5%
Strong Buy
4 50.0%
Buy
1 12.5%
Hold
0 0.0%
Sell
0 0.0%
Strong Sell
12-Month Price Target
3 analysts · 2026-09-29Mean target $19.00 +37.1%
← Below all targets
Current price $13.86
Low$17.00
Mean$19.00
High$20.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
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Source: SEC 10-Q filed Aug 4, 2026