TXO Partners (NYSE:TXO) Price Target Cut to $22.00 by Analysts 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 - Free Report) had its target price reduced by Raymond James Financial from $24.00 to $22.00 in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. They currently have a strong-buy rating on the stock.

TXO has been the topic of several other research reports. Wall Street Zen raised shares of TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Stifel Nicolaus upped their target price 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 equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat, TXO Partners currently has a consensus rating of "Strong Buy" and a consensus price target of $21.50.

TXO Partners Stock Performance

TXO stock traded up $0.18 on Tuesday, reaching $13.87. 128,482 shares of the company were exchanged, compared to its average volume of 167,279. The firm has a market capitalization of $759.63 million, a PE ratio of 42.02 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. The stock's fifty day moving average price is $14.51 and its 200 day moving average price is $16.07. TXO Partners has a 12 month low of $13.27 and a 12 month high of $20.70.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.0%. TXO Partners's dividend payout ratio (DPR) is currently 545.45%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TXO. State of Wyoming bought a new position in TXO Partners in the second quarter valued at about $45,000. CWM LLC acquired a new position in shares of TXO Partners in the first quarter worth approximately $77,000. Corient Private Wealth LLC acquired a new position in shares of TXO Partners in the second quarter worth approximately $150,000. Apollon Wealth Management LLC acquired a new position in shares of TXO Partners in the second quarter worth approximately $152,000. Finally, Boston Partners acquired a new position in TXO Partners in the second quarter valued at approximately $178,000. Institutional investors own 27.44% of the company's stock.

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.