Jennison Associates LLC Lowers Holdings in TXO Partners, L.P. (NYSE:TXO)

Jennison Associates LLC trimmed its stake in shares of TXO Partners, L.P. (NYSE:TXO) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 185,985 shares of the company’s stock after selling 3,377 shares during the period. Jennison Associates LLC owned about 0.60% of TXO Partners worth $3,381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of TXO. Raymond James Financial Services Advisors Inc. increased its holdings in shares of TXO Partners by 418.8% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 52,688 shares of the company’s stock valued at $958,000 after purchasing an additional 42,533 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in TXO Partners by 64.3% in the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock valued at $47,000 after buying an additional 900 shares in the last quarter. Finally, Raymond James & Associates raised its position in shares of TXO Partners by 1.3% in the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after acquiring an additional 3,331 shares during the period. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

TXO Partners Stock Performance

Shares of NYSE TXO opened at $18.75 on Friday. The company’s 50-day simple moving average is $18.19 and its 200-day simple moving average is $18.20. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. TXO Partners, L.P. has a 52-week low of $17.20 and a 52-week high of $23.57.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $70.76 million. Sell-side analysts predict that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The company also recently disclosed 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. This represents a $2.32 annualized dividend and a yield of 12.37%. The ex-dividend date was Thursday, March 14th. TXO Partners’s dividend payout ratio is currently -69.88%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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. Stifel Nicolaus reduced their target price on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd.

TXO Partners 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.