TXO Partners (NYSE:TXO) Sees Large Volume Increase – What’s Next?

Shares of TXO Partners LP (NYSE:TXO) saw unusually-high trading volume on Tuesday . Approximately 423,836 shares traded hands during trading, an increase of 112% from the previous session’s volume of 199,526 shares.The stock last traded at $11.0450 and had previously closed at $11.30.

Analyst Ratings Changes

TXO has been the topic of several research analyst reports. Raymond James Financial lowered their price target on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, September 9th. Wall Street Zen lowered TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Zacks Research upgraded shares of TXO Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of TXO Partners in a research report on Monday, December 8th. Finally, Stifel Nicolaus lowered their price objective on shares of TXO Partners from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $20.50.

TXO Partners Stock Down 2.6%

The business has a 50-day moving average price of $12.95 and a 200-day moving average price of $14.05. The company has a market capitalization of $603.13 million, a price-to-earnings ratio of 27.53 and a beta of 0.08. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.37.

TXO Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Shareholders of record on Friday, November 14th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 12.7%. The ex-dividend date was Friday, November 14th. TXO Partners’s payout ratio is presently 350.00%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Energy Income Partners LLC lifted its holdings in shares of TXO Partners by 8.7% in 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. purchased a new position in shares of TXO Partners during the first quarter valued at $13,026,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in TXO Partners during the second quarter valued at $946,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in TXO Partners by 307.7% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company’s stock worth $7,971,000 after acquiring an additional 400,000 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in TXO Partners by 27.5% in the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 70,777 shares of the company’s stock worth $1,064,000 after acquiring an additional 15,277 shares in the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

About TXO Partners

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.