TXO Partners (NYSE:TXO) Hits New 52-Week Low – Should You Sell?

TXO Partners LP (NYSE:TXO) shares hit a new 52-week low during trading on Thursday . The company traded as low as $11.84 and last traded at $11.90, with a volume of 97644 shares changing hands. The stock had previously closed at $11.92.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Zacks Research upgraded TXO Partners from a “strong sell” rating to a “hold” rating in a report on Monday, October 27th. Raymond James Financial cut their price target on shares of TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 9th. Wall Street Zen lowered shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TXO Partners in a research report on Monday. Finally, Stifel Nicolaus dropped their target price on shares of TXO Partners from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.

TXO Partners Price Performance

The firm’s 50 day moving average price is $13.01 and its two-hundred day moving average price is $14.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.48 and a quick ratio of 0.48. The stock has a market cap of $647.77 million, a PE ratio of 29.56 and a beta of 0.08.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were given a dividend of $0.35 per share. The ex-dividend date was Friday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 11.8%. TXO Partners’s dividend payout ratio is 350.00%.

Institutional Trading of TXO Partners

Several hedge funds and other institutional investors have recently bought and sold shares of TXO. State of Wyoming bought a new position in shares of TXO Partners in the second quarter worth approximately $45,000. Arlington Trust Co LLC purchased a new stake in TXO Partners during the 3rd quarter valued at $56,000. CWM LLC boosted its position in TXO Partners by 5,389.0% during the 3rd quarter. CWM LLC now owns 5,489 shares of the company’s stock valued at $77,000 after buying an additional 5,389 shares during the period. Corient Private Wealth LLC bought a new stake in TXO Partners in the 2nd quarter worth $150,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of TXO Partners in the second quarter valued at about $152,000. Institutional investors own 27.44% of the company’s stock.

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.