TXO Partners (NYSE:TXO) Reaches New 52-Week Low - Here's What Happened

Key Points

• TXO Partners LP shares hit a new 52-week low of $14.08, closing slightly higher at $14.10 with a trading volume of 58,810 shares.
• Despite the recent low, analysts remain optimistic, with Stifel Nicolaus setting a price target of $21.00 and Raymond James raising its target to $24.00 while maintaining a "strong-buy" rating.
• TXO Partners recently announced a quarterly dividend of $0.45 per share, yielding 12.8%, although it has a high payout ratio of 739.39%.

TXO Partners LP (NYSE:TXO - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $14.08 and last traded at $14.10, with a volume of 58810 shares traded. The stock had previously closed at $14.22.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TXO. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 target price (up from $23.00) on shares of TXO Partners in a report on Friday, July 25th. Stifel Nicolaus increased 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. 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 given a Buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Strong Buy" and an average target price of $22.50.

TXO Partners Stock Performance

The firm has a market capitalization of $743.91 million, a P/E ratio of 41.15 and a beta of 0.09. The stock has a 50-day moving average of $15.04 and a 200 day moving average of $16.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 0.97.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 15th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $1.80 annualized dividend and a yield of 13.3%. TXO Partners's dividend payout ratio is currently 545.45%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of TXO. Raymond James Financial Inc. acquired a new position in TXO Partners during the 4th quarter worth $4,609,000. XTX Topco Ltd acquired a new position in shares of TXO Partners in the 4th quarter valued at $270,000. Jane Street Group LLC acquired a new position in shares of TXO Partners in the 4th quarter valued at $461,000. Total Wealth Planning & Management Inc. acquired a new position in shares of TXO Partners in the 4th quarter valued at $1,517,000. Finally, Wealthedge Investment Advisors LLC acquired a new position in shares of TXO Partners in the 4th quarter valued at $1,169,000. 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.