62,874 Shares in TXO Partners LP $TXO Purchased by Thurston Springer Miller Herd & Titak Inc.

Key Points

• Thurston Springer Miller Herd & Titak Inc. acquired 62,874 shares of TXO Partners LP during the 2nd quarter, resulting in a total investment of approximately $946,000, which represents 0.15% of the company's stock.
• TXO Partners recently saw a cut in its quarterly dividend, with an annualized yield of 13.0%, despite a high payout ratio of 545.45%.
• Wall Street analysts provided mixed ratings on TXO Partners, with recent reports downgrading it to a "sell" while another set a target price increase, indicating a consensus rating of "Strong Buy" with an average target price of $21.50.

Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of TXO Partners LP (NYSE:TXO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 62,874 shares of the company's stock, valued at approximately $946,000. Thurston Springer Miller Herd & Titak Inc. owned 0.15% of TXO Partners at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in TXO. Energy Income Partners LLC increased its position in shares of 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in TXO Partners in the 1st quarter valued at about $13,026,000. Total Wealth Planning & Management Inc. raised its position in shares of TXO Partners by 3.6% in the 1st quarter. Total Wealth Planning & Management Inc. now owns 93,334 shares of the company's stock valued at $1,788,000 after buying an additional 3,274 shares in the last quarter. Wealthedge Investment Advisors LLC bought a new stake in shares of TXO Partners during the 4th quarter worth approximately $1,169,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its position in shares of TXO Partners by 11.0% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock worth $1,063,000 after acquiring an additional 5,500 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TXO has been the subject of several recent analyst reports. Wall Street Zen downgraded TXO Partners from a "hold" rating to a "sell" rating in a research report on Saturday. Stifel Nicolaus boosted their target price on TXO Partners from $20.00 to $21.00 and gave the stock a "buy" rating in a research note on Thursday, August 14th. Finally, Raymond James Financial dropped their target price on shares of TXO Partners from $24.00 to $22.00 and set a "strong-buy" rating for the company in a report on Tuesday, September 9th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat.com, TXO Partners currently has a consensus rating of "Strong Buy" and an average target price of $21.50.

TXO Partners Stock Up 1.3%

TXO Partners stock opened at $13.87 on Monday. The firm has a market cap of $759.63 million, a price-to-earnings ratio of 42.02 and a beta of 0.09. TXO Partners LP has a 52-week low of $13.27 and a 52-week 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. The firm has a 50 day moving average price of $14.51 and a two-hundred day moving average price of $16.04.

TXO Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 13.0%. The ex-dividend date of this dividend was Friday, August 15th. TXO Partners's payout ratio is 545.45%.

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.

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