TXO Partners (NYSE:TXO) Sets New 12-Month Low - Here's What Happened

TXO Partners LP (NYSE:TXO - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $14.78 and last traded at $14.93, with a volume of 47961 shares trading hands. The stock had previously closed at $14.94.

Analysts Set New Price Targets

Separately, Stifel Nicolaus assumed coverage on TXO Partners in a research report on Wednesday, April 23rd. They set a "buy" rating and a $20.00 price target for the company.

TXO Partners Stock Up 0.7%

The company has a debt-to-equity ratio of 0.28, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $616.80 million, a P/E ratio of 35.50 and a beta of 0.09. The stock has a 50-day moving average of $15.31 and a 200 day moving average of $17.41.

TXO Partners (NYSE:TXO - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). TXO Partners had a net margin of 5.22% and a return on equity of 3.89%. The company had revenue of $84.33 million during the quarter, compared to analyst estimates of $82.00 million. Research analysts anticipate that TXO Partners LP will post 1.02 earnings per share for the current year.

TXO Partners Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 16th were paid a dividend of $0.61 per share. This represents a $2.44 dividend on an annualized basis and a dividend yield of 16.36%. The ex-dividend date was Friday, May 16th. TXO Partners's payout ratio is 580.95%.

Insider Buying and Selling

In other news, Director Keith A. Hutton bought 700,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average price of $15.00 per share, with a total value of $10,500,000.00. Following the completion of the purchase, the director directly owned 4,820,215 shares of the company's stock, valued at approximately $72,303,225. This represents a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, insider Luther King, Jr. purchased 500,000 shares of the company's stock in a transaction on Thursday, May 15th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $7,500,000.00. Following the completion of the purchase, the insider owned 3,061,530 shares of the company's stock, valued at approximately $45,922,950. This trade represents a 19.52% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 3,473,000 shares of company stock valued at $52,095,540 over the last 90 days.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors have recently modified their holdings of TXO. Raymond James Financial Inc. purchased a new stake in TXO Partners in the 4th quarter valued at $4,609,000. Boston Partners purchased a new stake in TXO Partners in the 4th quarter valued at $375,000. Virtu Financial LLC purchased a new stake in TXO Partners in the 4th quarter valued at $339,000. Sei Investments Co. raised its position in TXO Partners by 4.2% in the 4th quarter. Sei Investments Co. now owns 123,094 shares of the company's stock valued at $2,073,000 after buying an additional 5,000 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in TXO Partners by 41.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,059,828 shares of the company's stock valued at $17,795,000 after buying an additional 313,049 shares during the last quarter. 27.44% of the stock is owned by institutional investors and hedge funds.

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.