TXO Partners (NYSE:TXO) Reaches New 1-Year Low – Here’s What Happened

Shares of TXO Partners LP (NYSE:TXO) hit a new 52-week low during trading on Thursday . The company traded as low as $13.35 and last traded at $13.58, with a volume of 169872 shares traded. The stock had previously closed at $13.48.

Wall Street Analyst Weigh In

TXO has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Raymond James Financial restated a “strong-buy” rating and issued a $24.00 target price (up from $23.00) on shares of TXO Partners in a research note on Friday, July 25th. Finally, Stifel Nicolaus upped their target price on shares of TXO Partners from $20.00 to $21.00 and gave the stock a “buy” rating in a research note on Thursday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, TXO Partners currently has an average rating of “Strong Buy” and an average price target of $22.50.

TXO Partners Price Performance

The stock’s 50-day moving average is $15.04 and its 200 day moving average is $16.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $743.91 million, a PE ratio of 41.15 and a beta of 0.09.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 15th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 13.3%. TXO Partners’s dividend payout ratio is presently 545.45%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. King Luther Capital Management Corp raised its holdings in shares of 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 worth $46,200,000 after buying an additional 510,266 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of TXO Partners by 40.7% in the second 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 last quarter. Energy Income Partners LLC raised its holdings in shares of TXO Partners by 15.4% in the second quarter. Energy Income Partners LLC now owns 904,277 shares of the company’s stock worth $13,600,000 after buying an additional 120,663 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of TXO Partners by 5.3% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company’s stock worth $10,767,000 after purchasing an additional 35,990 shares during the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of TXO Partners by 307.7% during the second quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company’s stock worth $7,971,000 after purchasing an additional 400,000 shares during 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.