MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Makes New $13.03 Million Investment in TXO Partners LP $TXO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. has invested approximately $13.03 million in TXO Partners LP, acquiring 679,877 shares, representing about 1.64% of the company's stock.
• TXO Partners recently announced a quarterly dividend of $0.45 per share, resulting in an annualized dividend yield of 13.4%, although it faces a high dividend payout ratio of 545.45%.
• Analyst ratings for TXO Partners are positive, with a consensus rating of "Strong Buy" and a target price increase to $22.50, indicating strong investment sentiment.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of TXO Partners LP (NYSE:TXO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 679,877 shares of the company's stock, valued at approximately $13,026,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 1.64% of TXO Partners at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TXO. CWM LLC acquired a new position in shares of TXO Partners during the first quarter worth $77,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of TXO Partners in the 1st quarter valued at about $216,000. Atria Wealth Solutions Inc. acquired a new stake in shares of TXO Partners during the 1st quarter worth about $230,000. Jane Street Group LLC purchased a new stake in TXO Partners during the fourth quarter worth approximately $461,000. Finally, Deroy & Devereaux Private Investment Counsel Inc. lifted its stake in TXO Partners by 28.2% during the first quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 27,250 shares of the company's stock worth $522,000 after purchasing an additional 6,000 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Stock Performance

Shares of TXO Partners stock traded up $0.18 during trading hours on Friday, hitting $13.87. 128,482 shares of the company were exchanged, compared to its average volume of 167,279. TXO Partners LP has a 1 year low of $13.27 and a 1 year high of $20.70. The stock has a market capitalization of $759.63 million, a price-to-earnings ratio of 42.02 and a beta of 0.09. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $14.51 and a 200-day moving average of $16.10.

TXO Partners Cuts Dividend

The firm also recently announced 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. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 13.0%. TXO Partners's payout ratio is presently 545.45%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Stifel Nicolaus raised their price objective on shares of TXO Partners from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Raymond James Financial dropped their target price on shares of TXO Partners from $24.00 to $22.00 and set a "strong-buy" rating on the stock in a research report on Tuesday. Finally, Wall Street Zen downgraded shares of TXO Partners from a "hold" rating to a "sell" rating in a research note on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company. According to MarketBeat, TXO Partners presently has a consensus rating of "Strong Buy" and an average price target of $21.50.

TXO Partners 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.