CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Has $7.97 Million Stock Position in TXO Partners LP $TXO

Key Points

• CUSHING ASSET MANAGEMENT LP significantly increased its holdings in TXO Partners LP by 307.7%, now owning 530,000 shares valued at approximately $7.97 million.
• TXO Partners recently cut its dividend to $0.45 per share, translating to an annualized yield of 12.9% but reflecting a high dividend payout ratio of 545.45%.
• Analyst ratings for TXO Partners show mixed reviews, with Wall Street Zen downgrading the stock to a "sell," while Stifel Nicolaus maintains a "buy" rating with a raised price objective of $21.00.

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in TXO Partners LP (NYSE:TXO - Free Report) by 307.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 530,000 shares of the company's stock after purchasing an additional 400,000 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 1.28% of TXO Partners worth $7,971,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of TXO Partners during the 2nd quarter worth approximately $946,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in TXO Partners in the 1st quarter worth approximately $13,026,000. Energy Income Partners LLC grew its position in TXO Partners by 8.7% in the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company's stock valued at $15,014,000 after purchasing an additional 62,874 shares in the last quarter. Atria Wealth Solutions Inc. bought a new stake in shares of TXO Partners during the 1st quarter worth approximately $230,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in TXO Partners by 11.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company's stock worth $1,063,000 after purchasing an additional 5,500 shares during the period. Hedge funds and other institutional investors own 27.44% of the company's stock.

Wall Street Analyst Weigh In

TXO has been the topic of a number of recent analyst reports. Raymond James Financial cut their price target 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. Stifel Nicolaus boosted 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, Wall Street Zen downgraded shares of TXO Partners from a "hold" rating to a "sell" rating in a research note on Saturday, September 13th. One 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 company presently has a consensus rating of "Strong Buy" and an average target price of $21.50.

TXO Partners Stock Down 0.9%

Shares of TXO Partners stock traded down $0.12 during trading hours on Monday, hitting $13.80. The company had a trading volume of 102,756 shares, compared to its average volume of 138,537. The company's 50-day moving average is $14.37 and its two-hundred day moving average is $15.83. 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 cap of $755.96 million, a P/E ratio of 41.82 and a beta of 0.09. TXO Partners LP has a twelve month low of $13.27 and a twelve month high of $20.70.

TXO Partners Cuts Dividend

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

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.