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TXO Partners, L.P. (NYSE:TXO) reported strong earnings, but the stock hasn't reacted significantly. The company's accrual ratio indicates that its free cash flow was less than its statutory profit, leading to doubts about the reliability of profit as a guide. Additionally, TXO Partners has been issuing new shares, diluting shareholder ownership. However, the accrual ratio was better last year, and analysts' forecasts suggest potential future profitability.

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