TXO Partners (NYSE:TXO) Price Target Lowered to $22.00 at Raymond James Financial

Key Points

• Raymond James Financial has lowered its price target for TXO Partners from $24.00 to $22.00, indicating a potential upside of 63.50% from the current price.
• TXO Partners has received ratings including a "strong-buy" from one analyst and a recent upgrade from "sell" to "hold" by Wall Street Zen.
• As of Tuesday, TXO's shares traded at $13.46, with a market cap of approximately $737.12 million and significant activity from institutional investors increasing their stakes in the company.

TXO Partners (NYSE:TXO - Get Free Report) had its target price decreased by equities research analysts at Raymond James Financial from $24.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has a "strong-buy" rating on the stock. Raymond James Financial's target price points to a potential upside of 63.50% from the company's current price.

TXO has been the subject of several other research reports. Wall Street Zen upgraded TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Stifel Nicolaus increased their target price on TXO Partners from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. Based on data from MarketBeat.com, TXO Partners has an average rating of "Strong Buy" and an average price target of $21.50.

TXO Partners Price Performance

Shares of NYSE:TXO traded up $0.06 during trading on Tuesday, hitting $13.46. 26,149 shares of the company's stock were exchanged, compared to its average volume of 192,285. 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 $13.27 and a 52-week high of $20.70. The business's 50-day simple moving average is $14.63 and its 200 day simple moving average is $16.21. The company has a market cap of $737.12 million, a price-to-earnings ratio of 40.71 and a beta of 0.09.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming bought a new position in TXO Partners during the second quarter valued at approximately $45,000. CWM LLC purchased a new position in shares of TXO Partners in the 1st quarter worth approximately $77,000. Corient Private Wealth LLC purchased a new position in shares of TXO Partners in the 2nd quarter worth approximately $150,000. Apollon Wealth Management LLC purchased a new position in shares of TXO Partners in the 2nd quarter worth approximately $152,000. Finally, Boston Partners purchased a new position in shares of TXO Partners in the 2nd quarter worth approximately $178,000. 27.44% of the stock is owned by 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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