TXO Partners (NYSE:TXO) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of TXO Partners (NYSE:TXO) from a sell rating to a hold rating in a report released on Saturday morning.

TXO has been the subject of a number of other reports. Raymond James Financial reissued a “strong-buy” rating and set a $24.00 price objective (up from $23.00) on shares of TXO Partners in a report on Friday, July 25th. Stifel Nicolaus started coverage on TXO Partners in a research note on Wednesday, April 23rd. They issued a “buy” rating and a $20.00 target price on the stock.

TXO Partners Stock Performance

Shares of TXO opened at $14.41 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day moving average price of $15.17 and a two-hundred day moving average price of $16.93. The firm has a market capitalization of $596.02 million, a P/E ratio of 43.66 and a beta of 0.09. TXO Partners has a 52 week low of $14.08 and a 52 week high of $20.93.

TXO Partners Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 15th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date is Friday, August 15th. TXO Partners’s payout ratio is presently 739.39%.

Insider Transactions at TXO Partners

In other TXO Partners news, insider Luther King, Jr. bought 500,000 shares of the business’s stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $7,500,000.00. Following the purchase, the insider directly owned 3,061,530 shares of the company’s stock, valued at approximately $45,922,950. This represents a 19.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bob R. Simpson acquired 2,250,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was purchased at an average price of $15.00 per share, for a total transaction of $33,750,000.00. Following the purchase, the director owned 6,750,000 shares of the company’s stock, valued at $101,250,000. The trade was a 50.00% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 3,473,000 shares of company stock worth $52,095,540.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently bought and sold shares of the company. King Luther Capital Management Corp lifted its stake in TXO Partners by 19.9% in the second quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company’s stock valued at $46,200,000 after purchasing an additional 510,266 shares during the last quarter. Energy Income Partners LLC lifted its stake in 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TXO Partners in the first quarter valued at approximately $13,026,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake 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 valued at $7,971,000 after purchasing an additional 400,000 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in TXO Partners in the fourth quarter valued at approximately $4,609,000. 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.