TXO Partners (NYSE:TXO) Given a $21.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus has raised its price target for TXO Partners from $20.00 to $21.00, indicating a potential upside of 42.95% from the previous close.
• Other analysts have also upgraded TXO, with Raymond James giving it a "strong-buy" rating and a target of $24.00.
• TXO Partners is focused on oil and natural gas acquisition and development, particularly in the Permian and San Juan Basins, with a current stock price of $14.69.

Stifel Nicolaus set a $21.00 price objective on TXO Partners (NYSE:TXO - Free Report) in a research note released on Thursday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

A number of other analysts have also recently issued reports on TXO. Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Raymond James Financial reissued a "strong-buy" rating and set a $24.00 price objective (up previously from $23.00) on shares of TXO Partners in a research report on Friday, July 25th.

TXO Partners Stock Down 1.4%

Shares of TXO stock traded down $0.19 on Thursday, reaching $13.83. 305,382 shares of the company's stock traded hands, compared to its average volume of 195,176. TXO Partners has a 12-month low of $13.51 and a 12-month high of $20.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $757.61 million, a P/E ratio of 41.91 and a beta of 0.09. The business's 50 day moving average price is $15.13 and its two-hundred day moving average price is $16.84.

TXO Partners Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 15th will be given a $0.45 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.0%. TXO Partners's payout ratio is currently 545.45%.

Institutional Trading of TXO Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of TXO Partners in the first quarter worth about $216,000. Jane Street Group LLC acquired a new position in shares of TXO Partners during the 4th quarter worth about $461,000. Raymond James Financial Inc. acquired a new position in shares of TXO Partners during the 4th quarter worth about $4,609,000. Wealthedge Investment Advisors LLC acquired a new position in shares of TXO Partners during the 4th quarter worth about $1,169,000. Finally, XTX Topco Ltd acquired a new position in shares of TXO Partners during the 4th quarter worth about $270,000. Institutional investors and hedge funds own 27.44% of the company's stock.

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.