TXO Partners (NYSE:TXO) Reaches New 1-Year Low - Here's Why

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%.

Shares of TXO Partners LP (NYSE:TXO - Get Free Report) reached a new 52-week low 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.

Wall Street Analyst Weigh In

A number of analysts recently commented on TXO shares. Stifel Nicolaus lifted their price target on TXO Partners from $20.00 to $21.00 and gave the stock a "buy" rating in a report on Thursday, August 14th. Wall Street Zen upgraded TXO Partners from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $24.00 price target (up from $23.00) on shares of TXO Partners in a report on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to data from MarketBeat.com, TXO Partners currently has an average rating of "Strong Buy" and an average target price of $22.50.

TXO Partners Stock Performance

The company has a 50-day moving average price of $14.98 and a two-hundred day moving average price of $16.65. 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 $766.37 million, a PE ratio of 42.40 and a beta of 0.09.

TXO Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were paid a dividend of $0.45 per share. 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 545.45%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently added to or reduced their stakes in TXO. State of Wyoming bought a new stake in TXO Partners during the second quarter worth about $45,000. CWM LLC bought a new stake in shares of TXO Partners in the 1st quarter valued at about $77,000. Corient Private Wealth LLC bought a new stake in shares of TXO Partners in the 2nd quarter valued at about $150,000. Apollon Wealth Management LLC bought a new stake in shares of TXO Partners in the 2nd quarter valued at about $152,000. Finally, Boston Partners bought a new stake in shares of TXO Partners in the 2nd quarter valued at about $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.