TXO Partners (NYSE:TXO) Reaches New 1-Year Low - Should You Sell?

Key Points

• TXO Partners shares reached a new 52-week low, trading at $13.28, with a closing price of $13.35.
• Analysts have mixed opinions, with a consensus rating of "Strong Buy" and a price target averaging $22.50, despite recent downward pressure on the stock.
• TXO Partners declared a quarterly dividend of $0.45, representing a yield of 13.4%, but its payout ratio is a high 545.45%.

TXO Partners LP (NYSE:TXO - Get Free Report)'s share price hit a new 52-week low on Monday . The stock traded as low as $13.28 and last traded at $13.35, with a volume of 115791 shares changing hands. The stock had previously closed at $13.57.

Analyst Ratings Changes

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

TXO Partners Stock Down 1.1%

The firm's 50 day simple moving average is $14.66 and its 200 day simple moving average is $16.26. The company has a market cap of $735.15 million, a price-to-earnings ratio of 40.67 and a beta of 0.09. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.03.

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 given a $0.45 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 13.4%. TXO Partners's payout ratio is 545.45%.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TXO. State of Wyoming acquired a new stake in TXO Partners during the second quarter valued at $45,000. CWM LLC bought a new position in TXO Partners in the 1st quarter worth $77,000. Corient Private Wealth LLC bought a new position in shares of TXO Partners during the 2nd quarter worth about $150,000. Apollon Wealth Management LLC bought a new position in shares of TXO Partners during the 2nd quarter worth about $152,000. Finally, Boston Partners acquired a new stake in shares of TXO Partners during the 2nd quarter valued at about $178,000. Institutional investors and hedge funds 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.

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