American Century Companies Inc. Reduces Stake in TXO Partners LP $TXO

Key Points

• American Century Companies Inc. reduced its holdings in TXO Partners LP by 6.2%, selling 70,086 shares and retaining approximately 1,059,314 shares valued at $20.3 million.
• Several hedge funds have initiated new positions in TXO Partners during Q1, indicating increased institutional interest, with a total of 27.44% of the stock owned by institutional investors.
• Analysts have revised their price targets for TXO Partners, with Stifel Nicolaus raising it to $21.00 and Raymond James increasing it to $24.00, reflecting a generally positive outlook on the stock.

American Century Companies Inc. reduced its stake in TXO Partners LP (NYSE:TXO - Free Report) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,059,314 shares of the company's stock after selling 70,086 shares during the quarter. American Century Companies Inc. owned approximately 2.56% of TXO Partners worth $20,296,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in TXO Partners in the 4th quarter worth $4,609,000. Total Wealth Planning & Management Inc. raised its holdings in TXO Partners by 3.6% during the first 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 during the period. Wealthedge Investment Advisors LLC bought a new stake in TXO Partners during the fourth quarter valued at about $1,169,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in TXO Partners by 11.0% during the first 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 during the period. Finally, CWA Asset Management Group LLC raised its holdings 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 period. 27.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Stifel Nicolaus raised 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. Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reissued a "strong-buy" rating and set a $24.00 price target (up from $23.00) on shares of TXO Partners in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of $22.50.

TXO Partners Price Performance

Shares of TXO Partners stock traded down $0.07 during trading on Thursday, reaching $14.04. 34,347 shares of the stock traded hands, compared to its average volume of 194,443. The company has a market capitalization of $768.89 million, a price-to-earnings ratio of 42.50 and a beta of 0.09. The business has a fifty day simple moving average of $14.88 and a two-hundred day simple moving average of $16.56. 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 $13.35 and a 52-week high of $20.70.

TXO Partners Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were given a $0.45 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 12.8%. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.

About TXO Partners

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.