TXO Partners (NYSE:TXO) Reaches New 52-Week Low - What's Next?

Key Points

• TXO Partners LP shares reached a new 1-year low of $13.35 during trading, closing at $13.58, reflecting a drop in stock value.
• Analysts have mixed opinions, with one upgrading the rating to "hold," while others maintained strong buy recommendations and increased target prices, indicating potential for recovery.
• The company announced a quarterly dividend of $0.45 per share, resulting in an annualized yield of 13.3%, despite a high dividend payout ratio of 545.45%.

TXO Partners LP (NYSE:TXO - Get Free Report) shares reached a new 52-week low during trading on Thursday . The company traded as low as $13.35 and last traded at $13.58, with a volume of 169872 shares changing hands. The stock had previously closed at $13.48.

Analysts Set New Price Targets

Several research analysts recently issued reports on TXO shares. Stifel Nicolaus upped their target price on shares of TXO Partners from $20.00 to $21.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Raymond James Financial reiterated a "strong-buy" rating and issued a $24.00 target price (up from $23.00) on shares of TXO Partners in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and a consensus target price of $22.50.

TXO Partners Price Performance

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 firm has a market capitalization of $761.94 million, a P/E ratio of 42.11 and a beta of 0.09. The firm's 50 day simple moving average is $14.95 and its two-hundred day simple moving average is $16.60.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 12.9%. TXO Partners's payout ratio is currently 545.45%.

Hedge Funds Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently modified their holdings of TXO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of TXO Partners during the first quarter valued at about $13,026,000. King Luther Capital Management Corp raised its stake in shares of TXO Partners by 19.9% during the second quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company's stock valued at $46,200,000 after acquiring an additional 510,266 shares during the last quarter. American Century Companies Inc. raised its stake in shares of TXO Partners by 40.7% during the second 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 during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its stake in shares of TXO Partners by 307.7% during the second 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 during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of TXO Partners during the second quarter valued at about $5,830,000. 27.44% of the stock is owned by institutional investors.

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.