TXO Partners (NYSE:TXO) Trading Down 0.1%

TXO Partners, L.P. (NYSE:TXO) shares were down 0.1% during trading on Thursday . The stock traded as low as $18.12 and last traded at $18.31. Approximately 43,938 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 46,150 shares. The stock had previously closed at $18.32.

Wall Street Analyst Weigh In

Several analysts have recently commented on TXO shares. Stifel Nicolaus reduced their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd. Raymond James reduced their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

TXO Partners Stock Performance

The firm has a fifty day moving average of $18.04 and a 200-day moving average of $18.30. The stock has a market capitalization of $563.03 million, a price-to-earnings ratio of -5.52 and a beta of -0.11. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.72. The firm had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. As a group, sell-side analysts anticipate that TXO Partners, L.P. will post 1.15 EPS for the current year.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.58 per share. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. This represents a $2.32 annualized dividend and a yield of 12.67%. TXO Partners’s payout ratio is currently -69.88%.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Venturi Wealth Management LLC raised its holdings in shares of TXO Partners by 64.3% in the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after acquiring an additional 900 shares during the last quarter. UBS Group AG acquired a new position in shares of TXO Partners in the third quarter worth $51,000. Brown Brothers Harriman & Co. acquired a new position in shares of TXO Partners in the fourth quarter worth $183,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of TXO Partners in the third quarter worth $206,000. Finally, GSA Capital Partners LLP acquired a new position in shares of TXO Partners in the fourth quarter worth $222,000. 27.44% of the stock is owned by institutional investors and hedge funds.

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.