MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Invests $13.03 Million 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. bought a new stake in TXO Partners LP (NYSE:TXO - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 679,877 shares of the company's stock, valued at approximately $13,026,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 1.64% of TXO Partners at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Jane Street Group LLC bought a new position in TXO Partners during the fourth quarter valued at approximately $461,000. Total Wealth Planning & Management Inc. bought a new position in TXO Partners during the fourth quarter valued at approximately $1,517,000. Wealthedge Investment Advisors LLC bought a new position in TXO Partners during the fourth quarter valued at approximately $1,169,000. CWA Asset Management Group LLC grew its position in TXO Partners by 29.1% during the first quarter. CWA Asset Management Group LLC now owns 50,124 shares of the company's stock valued at $960,000 after acquiring an additional 11,294 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in TXO Partners during the first quarter valued at approximately $216,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Trading Up 1.3%

NYSE:TXO traded up $0.18 during trading hours on Friday, hitting $13.87. The company had a trading volume of 128,482 shares, compared to its average volume of 161,980. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $759.63 million, a PE ratio of 42.02 and a beta of 0.09. The stock has a 50-day moving average price of $14.51 and a 200 day moving average price of $16.04. TXO Partners LP has a 52 week low of $13.27 and a 52 week 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. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 13.0%. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Wall Street Zen cut shares of TXO Partners from a "hold" rating to a "sell" rating in a research report on Saturday. Stifel Nicolaus raised their target price 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. Finally, Raymond James Financial cut 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 report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat, TXO Partners has an average rating of "Strong Buy" and an average target price 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.