TXO Partners (NYSE:TXO - Free Report) had its price objective lifted by Stifel Nicolaus from $20.00 to $21.00 in a report issued on Thursday, MarketBeat.com reports. The firm currently has a buy rating on the stock.
TXO has been the subject of a number of other research 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. Raymond James Financial restated a "strong-buy" rating and set a $24.00 price target (up previously from $23.00) on shares of TXO Partners in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Strong Buy" and an average price target of $22.50.
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TXO Partners Stock Down 1.6%
TXO Partners stock traded down $0.2150 during mid-day trading on Thursday, hitting $13.6250. The company's stock had a trading volume of 313,729 shares, compared to its average volume of 195,912. The firm's 50 day moving average is $15.10 and its 200 day moving average is $16.81. The company has a market cap of $746.43 million, a PE ratio of 41.29 and a beta of 0.09. 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 has a 52-week low of $13.49 and a 52-week high of $20.70.
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. This represents a $1.80 annualized dividend and a yield of 13.2%. The ex-dividend date is Friday, August 15th. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.
Institutional Trading of TXO Partners
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. King Luther Capital Management Corp grew its position in TXO Partners by 19.9% in the 2nd quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company's stock worth $46,200,000 after purchasing an additional 510,266 shares during the last quarter. American Century Companies Inc. boosted its position in shares of TXO Partners by 40.7% during the 2nd quarter. American Century Companies Inc. now owns 1,490,548 shares of the company's stock valued at $22,418,000 after acquiring an additional 431,234 shares in the last quarter. Energy Income Partners LLC boosted its position in shares of TXO Partners by 15.4% during the 2nd quarter. Energy Income Partners LLC now owns 904,277 shares of the company's stock valued at $13,600,000 after acquiring an additional 120,663 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of TXO Partners by 5.3% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 715,867 shares of the company's stock valued at $10,767,000 after acquiring an additional 35,990 shares in the last quarter. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of TXO Partners by 307.7% during the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company's stock valued at $7,971,000 after acquiring an additional 400,000 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.
About TXO Partners
(
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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.
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