TXO Partners LP $TXO Shares Sold by Raymond James Financial Inc.

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. reduced its position in shares of TXO Partners LP (NYSE:TXO - Free Report) by 19.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TXO. Total Wealth Planning & Management Inc. acquired a new stake in TXO Partners during the fourth quarter worth about $1,517,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of TXO Partners during the fourth quarter valued at about $1,169,000. Jane Street Group LLC acquired a new stake in shares of TXO Partners during the fourth quarter valued at about $461,000. Atria Wealth Solutions Inc. acquired a new stake in shares of TXO Partners during the first quarter valued at about $230,000. Finally, CWA Asset Management Group LLC increased its position in shares of 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. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Stock Down 0.7%

Shares of TXO stock traded down $0.10 during trading on Thursday, reaching $13.66. The company's stock had a trading volume of 124,923 shares, compared to its average volume of 173,541. 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 $748.02 million, a price-to-earnings ratio of 41.38 and a beta of 0.09. The stock's 50-day moving average price is $14.54 and its 200 day moving average price is $16.14. TXO Partners LP has a 1-year low of $13.27 and a 1-year high of $20.70.

TXO Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were issued a $0.45 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.2%. TXO Partners's payout ratio is 545.45%.

Wall Street Analyst Weigh In

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