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

TXO Partners LP (NYSE:TXO) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $10.63 and last traded at $11.0550, with a volume of 693063 shares traded. The stock had previously closed at $11.30.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a research note on Saturday, September 13th. Stifel Nicolaus cut their price objective on TXO Partners from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Zacks Research raised TXO Partners from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of TXO Partners in a report on Monday. Finally, Raymond James Financial dropped their price target on shares of 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

TXO Partners Trading Down 2.2%

The business has a 50 day moving average of $12.88 and a two-hundred day moving average of $14.03. The firm has a market cap of $605.59 million, a P/E ratio of 27.64 and a beta of 0.08. 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 disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given 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 12.7%. TXO Partners’s dividend payout ratio is presently 350.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Wealthedge Investment Advisors LLC grew its position in shares of TXO Partners by 65.8% in the second quarter. Wealthedge Investment Advisors LLC now owns 88,914 shares of the company’s stock valued at $1,337,000 after purchasing an additional 35,290 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its holdings in TXO Partners by 560.6% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 180,000 shares of the company’s stock worth $2,707,000 after purchasing an additional 152,750 shares during the last quarter. Energy Income Partners LLC boosted its stake in TXO Partners by 15.4% in the 2nd quarter. Energy Income Partners LLC now owns 904,277 shares of the company’s stock valued at $13,600,000 after purchasing an additional 120,663 shares during the period. King Luther Capital Management Corp grew its holdings in TXO Partners by 19.9% in the 2nd quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company’s stock valued at $46,200,000 after buying an additional 510,266 shares in the last quarter. Finally, American Century Companies Inc. increased its position in TXO Partners by 40.7% during the 2nd quarter. American Century Companies Inc. now owns 1,490,548 shares of the company’s stock worth $22,418,000 after buying an additional 431,234 shares during the period. Institutional investors and hedge funds 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.