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

TXO Partners LP (NYSE:TXO) reached a new 52-week low 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 equities research analysts have recently weighed in on TXO shares. Stifel Nicolaus cut their price objective on TXO Partners from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Wall Street Zen cut shares of TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Zacks Research upgraded shares of TXO Partners from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Raymond James Financial dropped their target price on shares of TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 9th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TXO Partners in a research note on Monday. One 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.50.

TXO Partners Stock Down 3.5%

The company has a market capitalization of $587.79 million, a P/E ratio of 26.83 and a beta of 0.08. The company has a 50-day moving average of $12.76 and a two-hundred day moving average of $13.98. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.37.

TXO Partners Cuts Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 13.0%. TXO Partners’s dividend payout ratio is currently 350.00%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently bought and sold shares of the business. State of Wyoming purchased a new stake in TXO Partners in the second quarter worth about $45,000. Arlington Trust Co LLC bought a new stake in shares of TXO Partners in the 3rd quarter worth approximately $56,000. CWM LLC grew its stake in shares of TXO Partners by 5,389.0% in the 3rd quarter. CWM LLC now owns 5,489 shares of the company’s stock worth $77,000 after buying an additional 5,389 shares during the last quarter. Corient Private Wealth LLC purchased a new stake in shares of TXO Partners in the 2nd quarter worth approximately $150,000. Finally, Apollon Wealth Management LLC bought a new position in TXO Partners during the 2nd quarter valued at approximately $152,000. 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.