TXO Partners (NYSE:TXO) Trading Up 1.7%

TXO Partners, L.P. (NYSE:TXO) shot up 1.7% on Thursday . The company traded as high as $18.64 and last traded at $18.52. 65,169 shares traded hands during trading, an increase of 84% from the average session volume of 35,472 shares. The stock had previously closed at $18.21.

Analyst Upgrades and Downgrades

TXO has been the subject of a number of research analyst reports. Raymond James decreased 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 decreased their price target 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 Stock Performance

The stock has a market capitalization of $573.18 million, a price-to-earnings ratio of -5.61 and a beta of -0.11. The firm has a fifty day moving average of $18.15 and a 200 day moving average of $18.20. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, March 5th. The company reported $0.98 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 firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. On average, sell-side analysts anticipate that TXO Partners, L.P. will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 12.45%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio (DPR) is -69.88%.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC grew its stake in shares of 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. Brown Brothers Harriman & Co. acquired a new position in TXO Partners during the 4th quarter worth $183,000. Raymond James Financial Services Advisors Inc. purchased a new stake in TXO Partners during the 3rd quarter worth about $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in TXO Partners during the 4th quarter worth about $690,000. Finally, Hsbc Holdings PLC purchased a new stake in TXO Partners during the 4th quarter worth about $2,685,000. Hedge funds and other 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.