Apollon Wealth Management LLC Purchases Shares of 10,098 TXO Partners LP $TXO

Apollon Wealth Management LLC acquired a new stake in shares of TXO Partners LP (NYSE:TXO) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,098 shares of the company’s stock, valued at approximately $152,000.

A number of other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TXO Partners during the 1st quarter valued at approximately $13,026,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in shares of 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in TXO Partners in the second quarter worth $946,000. Energy Income Partners LLC raised its stake in TXO Partners by 8.7% during 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 in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in TXO Partners by 27.5% during the second quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 70,777 shares of the company’s stock valued at $1,064,000 after purchasing an additional 15,277 shares in the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TXO shares. Wall Street Zen downgraded shares of TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of TXO Partners in a research note on Wednesday, October 8th. Stifel Nicolaus upped their price objective on TXO Partners from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. Finally, Raymond James Financial decreased their price objective on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $21.50.

TXO Partners Stock Performance

Shares of NYSE:TXO opened at $12.86 on Monday. The firm has a market cap of $704.36 million, a PE ratio of 38.96 and a beta of 0.09. The firm’s 50 day simple moving average is $13.90 and its 200-day simple moving average is $15.08. TXO Partners LP has a one year low of $12.61 and a one year high of $20.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97.

TXO Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were given a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 14.0%. TXO Partners’s dividend payout ratio (DPR) is 545.45%.

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.