TXO Partners (NYSE:TXO) Sets New 52-Week Low – Here’s Why

TXO Partners LP (NYSE:TXO)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $12.25 and last traded at $12.3450, with a volume of 34147 shares. The stock had previously closed at $12.65.

Wall Street Analyst Weigh In

TXO has been the topic of several research analyst reports. Wall Street Zen cut shares of TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Zacks Research raised TXO Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Stifel Nicolaus dropped their price target 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. Raymond James Financial reduced their price objective on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research note on Tuesday, September 9th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of TXO Partners in a research report on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

TXO Partners Stock Performance

The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.37. The firm has a 50-day simple moving average of $13.55 and a two-hundred day simple moving average of $14.45. The company has a market capitalization of $674.12 million, a price-to-earnings ratio of 30.74 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. Investors of record on Friday, November 14th were issued a $0.35 dividend. The ex-dividend date was Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 11.4%. TXO Partners’s dividend payout ratio is currently 350.00%.

Institutional Trading of TXO Partners

A number of institutional investors have recently added to or reduced their stakes in the business. Deroy & Devereaux Private Investment Counsel Inc. raised its holdings in shares of TXO Partners by 560.6% during the 2nd quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 180,000 shares of the company’s stock valued at $2,707,000 after purchasing an additional 152,750 shares in the last quarter. Energy Income Partners LLC boosted its holdings in TXO Partners by 8.7% in the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company’s stock worth $15,014,000 after purchasing an additional 62,874 shares in the last quarter. King Luther Capital Management Corp increased its position in TXO Partners by 19.9% during 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. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in 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 buying an additional 400,000 shares during the last quarter. Finally, Sanders Morris Harris LLC bought a new position in TXO Partners during the second quarter valued at about $1,799,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.