TXO Partners (NYSE:TXO) Sets New 12-Month Low – Here’s What Happened

TXO Partners LP (NYSE:TXO)’s stock price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $11.84 and last traded at $11.90, with a volume of 97644 shares trading hands. The stock had previously closed at $11.92.

Analyst Upgrades and Downgrades

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

TXO Partners Trading Down 0.4%

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $650.24 million, a P/E ratio of 29.70 and a beta of 0.08. The company’s fifty day simple moving average is $13.10 and its 200-day simple moving average is $14.13.

TXO Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were paid a dividend of $0.35 per share. The ex-dividend date was Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 11.8%. TXO Partners’s dividend payout ratio (DPR) is currently 350.00%.

Institutional Trading of TXO Partners

A number of hedge funds have recently bought and sold shares of TXO. Atria Wealth Solutions Inc. purchased a new position in shares of TXO Partners in the 1st quarter valued at $230,000. Energy Income Partners LLC boosted its position in TXO Partners by 8.7% during the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company’s stock valued at $15,014,000 after purchasing an additional 62,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in TXO Partners during the first quarter valued at about $13,026,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in TXO Partners in the second quarter valued at about $946,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in TXO Partners by 307.7% in the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company’s stock worth $7,971,000 after purchasing an additional 400,000 shares in the last quarter. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.