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

Key Points

• TXO Partners' stock reached a new 52-week low at $12.94, closing slightly higher at $13.10 with a total trading volume of 229,758 shares.
• Analysts have varied opinions on TXO, with Raymond James cutting their target price to $22.00 while Stifel Nicolaus increased their price objective to $21.00, reflecting differing outlooks on the stock.
• TXO Partners announced a dividend of $0.45, translating to an annual yield of 13.7%, although the company's dividend payout ratio is extremely high at 545.45%.

TXO Partners LP (NYSE:TXO - Get Free Report)'s stock price hit a new 52-week low on Thursday . The company traded as low as $12.94 and last traded at $13.10, with a volume of 229758 shares traded. The stock had previously closed at $13.12.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Raymond James Financial cut their target price on shares of TXO Partners from $24.00 to $22.00 and set a "strong-buy" rating for the company in a research report on Tuesday, September 9th. Weiss Ratings reiterated a "hold (c-)" rating on shares of TXO Partners in a research report on Wednesday, October 8th. Wall Street Zen lowered shares of TXO Partners from a "hold" rating to a "sell" rating in a research report on Saturday, September 13th. Finally, Stifel Nicolaus raised their price objective on shares of TXO Partners from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Thursday, August 14th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $21.50.

TXO Partners Price Performance

The business's 50-day moving average price is $13.98 and its 200 day moving average price is $15.22. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $717.51 million, a P/E ratio of 39.69 and a beta of 0.09.

TXO Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 15th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 13.7%. The ex-dividend date of this dividend was Friday, August 15th. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its stake in TXO Partners by 5,389.0% in the third quarter. CWM LLC now owns 5,489 shares of the company's stock valued at $77,000 after purchasing an additional 5,389 shares in the last quarter. Sanders Morris Harris LLC raised its stake in TXO Partners by 92.7% in the third quarter. Sanders Morris Harris LLC now owns 230,522 shares of the company's stock valued at $3,590,000 after purchasing an additional 110,922 shares in the last quarter. Corient Private Wealth LLC purchased a new stake in TXO Partners in the second quarter valued at approximately $150,000. State of Wyoming purchased a new stake in TXO Partners in the second quarter valued at approximately $45,000. Finally, Energy Income Partners LLC raised its stake in TXO Partners by 15.4% in the second quarter. Energy Income Partners LLC now owns 904,277 shares of the company's stock valued at $13,600,000 after purchasing an additional 120,663 shares in the last quarter. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Company 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.

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