TXO Partners, L.P. (NYSE:TXO) Shares Sold by Jennison Associates LLC

Jennison Associates LLC reduced its position in TXO Partners, L.P. (NYSE:TXO) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 185,985 shares of the company’s stock after selling 3,377 shares during the period. Jennison Associates LLC’s holdings in TXO Partners were worth $3,381,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its stake in TXO Partners by 418.8% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after buying an additional 42,533 shares during the last quarter. Venturi Wealth Management LLC raised its position in TXO Partners by 64.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after purchasing an additional 900 shares during the last quarter. Finally, Raymond James & Associates grew its position in TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after purchasing an additional 3,331 shares during the last quarter. 27.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on TXO. Raymond James reduced their price objective 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. Stifel Nicolaus decreased their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

TXO Partners Stock Performance

NYSE TXO opened at $18.75 on Friday. TXO Partners, L.P. has a 12-month low of $17.20 and a 12-month high of $23.57. 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 business’s 50 day moving average is $18.19 and its two-hundred day moving average is $18.20.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. The firm had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. As a group, analysts expect that TXO Partners, L.P. will post 1.34 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a $0.58 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date was Thursday, March 14th. This represents a $2.32 annualized dividend and a yield of 12.37%. TXO Partners’s payout ratio is presently -69.88%.

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.