Shares of TXO Partners LP (NYSE:TXO - Get Free Report) reached a new 52-week low on Friday . The stock 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 Analysts Forecast Growth
TXO has been the subject of several research analyst reports. Stifel Nicolaus set a $21.00 price objective on TXO Partners and gave the stock a "buy" rating in a research report on Thursday. Raymond James Financial reissued a "strong-buy" rating and issued a $24.00 price objective (up from $23.00) on shares of TXO Partners in a research report on Friday, July 25th. Finally, Wall Street Zen raised TXO Partners from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th.
Read Our Latest Research Report on TXO Partners
TXO Partners Price Performance
The firm has a market capitalization of $580.83 million, a P/E ratio of 42.61 and a beta of 0.09. The business has a 50-day moving average of $15.15 and a 200 day moving average of $16.87. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03.
TXO Partners Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Investors of record on Friday, August 15th will be given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 12.8%. The ex-dividend date of this dividend is Friday, August 15th. TXO Partners's payout ratio is presently 739.39%.
Institutional Trading of TXO Partners
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC bought a new stake in TXO Partners in the 1st quarter valued at about $77,000. Apollon Wealth Management LLC bought a new stake in TXO Partners in the 2nd quarter valued at about $152,000. Cambridge Investment Research Advisors Inc. bought a new stake in TXO Partners during the 1st quarter worth approximately $216,000. Boston Partners bought a new stake in TXO Partners during the 2nd quarter worth approximately $178,000. Finally, Atria Wealth Solutions Inc. bought a new stake in TXO Partners during the 1st quarter worth approximately $230,000. 27.44% of the stock is owned by institutional investors.
About TXO Partners
(
Get Free Report)
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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