Thurston Springer Miller Herd & Titak Inc. Makes New Investment in TXO Partners LP $TXO

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. purchased a new position in TXO Partners LP (NYSE:TXO - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. bought a new position in TXO Partners in the first quarter valued at about $216,000. Jane Street Group LLC bought a new position in shares of TXO Partners in the 4th quarter worth $461,000. Energy Income Partners LLC grew its stake in TXO Partners by 8.7% during the 1st quarter. Energy Income Partners LLC now owns 783,614 shares of the company's stock valued at $15,014,000 after purchasing an additional 62,874 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of TXO Partners in the first quarter worth about $13,026,000. Finally, Wealthedge Investment Advisors LLC purchased a new position in shares of TXO Partners in the fourth quarter valued at approximately $1,169,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Stock Down 0.3%

Shares of TXO Partners stock traded down $0.04 during trading hours on Friday, hitting $14.00. 55,083 shares of the company's stock traded hands, compared to its average volume of 190,215. The stock has a 50 day simple moving average of $14.42 and a 200-day simple moving average of $15.94. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market cap of $767.14 million, a PE ratio of 42.44 and a beta of 0.09. TXO Partners LP has a twelve month low of $13.27 and a twelve month high of $20.70.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 12.9%. The ex-dividend date was Friday, August 15th. TXO Partners's payout ratio is presently 545.45%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on TXO shares. Stifel Nicolaus raised 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. Wall Street Zen cut TXO Partners from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and a consensus target price of $21.50.

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.