TXO Partners (NYSE:TXO) Reaches New 1-Year Low – Time to Sell?

Shares of TXO Partners LP (NYSE:TXO) reached a new 52-week low on Monday . The stock traded as low as $12.25 and last traded at $12.3450, with a volume of 34147 shares. The stock had previously closed at $12.65.

Wall Street Analyst Weigh In

TXO has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Zacks Research raised shares of TXO Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Stifel Nicolaus decreased their price objective on shares of TXO Partners from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of TXO Partners in a report on Monday, November 17th. Finally, Raymond James Financial cut their target price on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $20.50.

TXO Partners Price Performance

The firm has a market capitalization of $674.12 million, a P/E ratio of 30.74 and a beta of 0.08. The business’s fifty day moving average is $13.55 and its 200 day moving average is $14.45. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.37.

TXO Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were issued a $0.35 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 11.4%. TXO Partners’s dividend payout ratio is currently 350.00%.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds have recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. raised its position in shares of TXO Partners by 0.8% during the third quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 181,500 shares of the company’s stock worth $2,550,000 after purchasing an additional 1,500 shares during the period. Apollon Wealth Management LLC increased its stake in TXO Partners by 17.3% in the 3rd quarter. Apollon Wealth Management LLC now owns 11,845 shares of the company’s stock worth $166,000 after purchasing an additional 1,747 shares in the last quarter. State of Wyoming acquired a new stake in TXO Partners during the 2nd quarter worth about $45,000. Atria Wealth Solutions Inc. lifted its stake in TXO Partners by 25.0% during the second quarter. Atria Wealth Solutions Inc. now owns 15,000 shares of the company’s stock valued at $229,000 after buying an additional 3,000 shares in the last quarter. Finally, CWM LLC purchased a new stake in TXO Partners during the first quarter valued at about $77,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Company Profile

TXO Partners, L.P., an oil and natural gas company, focuses on the acquisition, development, optimization, and exploitation of conventional oil, natural gas, and natural gas liquid reserves in North America. Its acreage positions are concentrated in the Permian Basin of West Texas and New Mexico and the San Juan Basin of New Mexico and Colorado.