Raymond James Financial Inc. Sells 54,378 Shares of TXO Partners LP $TXO

Key Points

• Raymond James Financial Inc. reduced its stake in TXO Partners LP by 19.9%, owning 219,296 shares valued at approximately $4.2 million after selling 54,378 shares.
• TXO Partners recently announced a quarterly dividend of $0.45, equating to an annualized dividend yield of 13.3%, although the company's dividend payout ratio is notably high at 545.45%.
• Several analysts have upgraded TXO Partners' ratings, with Stifel Nicolaus increasing its target price from $20.00 to $21.00 and Raymond James maintaining a "strong-buy" rating with a target price of $24.00.

Raymond James Financial Inc. lowered its stake in TXO Partners LP (NYSE:TXO - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 219,296 shares of the company's stock after selling 54,378 shares during the period. Raymond James Financial Inc. owned 0.53% of TXO Partners worth $4,202,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in TXO. Total Wealth Planning & Management Inc. lifted its position in 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 acquiring an additional 3,274 shares in the last quarter. CWM LLC bought a new position in TXO Partners in the 1st quarter valued at approximately $77,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position in TXO Partners by 11.0% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock valued at $1,063,000 after acquiring an additional 5,500 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. lifted its position in TXO Partners by 28.2% in the 1st quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 27,250 shares of the company's stock valued at $522,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new position in TXO Partners in the 1st quarter valued at approximately $216,000. Hedge funds and other institutional investors own 27.44% of the company's stock.

TXO Partners Price Performance

Shares of TXO Partners stock traded up $0.08 during trading on Wednesday, reaching $13.68. 63,021 shares of the stock traded hands, compared to its average volume of 192,460. The company has a market capitalization of $749.39 million, a price-to-earnings ratio of 41.46 and a beta of 0.09. The business has a fifty day simple moving average of $14.60 and a two-hundred day simple moving average of $16.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97. TXO Partners LP has a 52-week low of $13.27 and a 52-week high of $20.70.

TXO Partners Cuts Dividend

The business 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 was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a yield of 13.2%. TXO Partners's dividend payout ratio is 545.45%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James Financial lowered their price objective on TXO Partners from $24.00 to $22.00 and set a "strong-buy" rating on the stock in a research report on Tuesday. Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus increased their price target on TXO Partners from $20.00 to $21.00 and gave the company a "buy" rating in a report on Thursday, August 14th. 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.com, TXO Partners presently has an average rating of "Strong Buy" and an average 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.