TXO Partners (NYSE:TXO) Sets New 52-Week Low – Time to Sell?

TXO Partners LP (NYSE:TXO) hit a new 52-week low on Friday . The stock traded as low as $13.27 and last traded at $13.31, with a volume of 229613 shares traded. The stock had previously closed at $13.90.

Wall Street Analysts Forecast Growth

TXO has been the topic of several analyst reports. Raymond James Financial dropped their target price on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, September 9th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TXO Partners in a research report on Wednesday. Stifel Nicolaus increased their target price on 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 lowered TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, TXO Partners presently has a consensus rating of “Buy” and an average price target of $21.50.

TXO Partners Price Performance

The company has a market capitalization of $722.00 million, a price-to-earnings ratio of 39.94 and a beta of 0.09. 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 business has a fifty day moving average price of $14.09 and a 200 day moving average price of $15.32.

TXO Partners Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.7%. The ex-dividend date of this dividend was Friday, August 15th. TXO Partners’s dividend payout ratio (DPR) is 545.45%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. bought a new position in TXO Partners during the first quarter valued at about $216,000. Energy Income Partners LLC boosted its stake in TXO Partners by 8.7% during the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company’s stock valued at $15,014,000 after buying an additional 62,874 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in 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 buying an additional 400,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of TXO Partners in the 1st quarter valued at $13,026,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of TXO Partners in the 2nd quarter valued at $946,000. Institutional investors own 27.44% of the company’s stock.

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.