TXO Partners (NYSE:TXO) Stock Price Up 1.7%

TXO Partners, L.P. (NYSE:TXO)’s share price rose 1.7% during trading on Thursday . The stock traded as high as $18.64 and last traded at $18.52. Approximately 65,169 shares were traded during trading, an increase of 84% from the average daily volume of 35,472 shares. The stock had previously closed at $18.21.

Wall Street Analysts Forecast Growth

TXO has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Raymond James cut their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th.

TXO Partners Stock Up 2.4 %

The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $573.18 million, a P/E ratio of -5.61 and a beta of -0.11. The company has a 50 day simple moving average of $18.15 and a two-hundred day simple moving average of $18.20.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The company had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. On average, equities analysts predict that TXO Partners, L.P. will post 1.28 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 12.45%. The ex-dividend date was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s payout ratio is -69.88%.

Institutional Investors Weigh In On TXO Partners

Large investors have recently modified their holdings of the business. King Luther Capital Management Corp lifted its holdings in TXO Partners by 0.6% in the fourth quarter. King Luther Capital Management Corp now owns 2,591,530 shares of the company’s stock valued at $47,114,000 after acquiring an additional 15,000 shares during the period. Raymond James & Associates lifted its stake in shares of TXO Partners by 1.3% in the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after purchasing an additional 3,331 shares during the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in TXO Partners during the 4th quarter worth about $4,346,000. Hsbc Holdings PLC acquired a new position in TXO Partners during the 4th quarter worth about $2,685,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in TXO Partners by 35.6% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 71,443 shares of the company’s stock valued at $1,282,000 after purchasing an additional 18,755 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.