TXO Partners (NYSE:TXO) Sets New 12-Month Low at $17.23

TXO Partners L.P. (NYSE:TXO)’s share price hit a new 52-week low during trading on Thursday . The company traded as low as $17.23 and last traded at $17.80, with a volume of 10623 shares traded. The stock had previously closed at $18.96.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TXO shares. Stifel Nicolaus raised their target price on shares of TXO Partners from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, August 25th. Raymond James reduced their price objective on shares of TXO Partners from $34.00 to $30.00 and set a “strong-buy” rating for the company in a research report on Monday, July 24th.

TXO Partners Trading Down 4.0 %

The stock has a fifty day moving average of $19.39 and a two-hundred day moving average of $20.49. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.04.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, November 7th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.06). The company had revenue of $69.87 million for the quarter, compared to analysts’ expectations of $71.38 million. TXO Partners had a negative return on equity of 1.33% and a net margin of 20.38%. Equities analysts predict that TXO Partners L.P. will post 0.69 EPS for the current fiscal year.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 27th. Shareholders of record on Friday, November 17th will be given a dividend of $0.52 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.48. This represents a $2.08 annualized dividend and a yield of 11.43%. The ex-dividend date is Thursday, November 16th.

Insider Buying and Selling at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 1,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $17.10, for a total transaction of $25,650,000.00. Following the sale, the insider now owns 1,139,098 shares of the company’s stock, valued at approximately $19,478,575.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other TXO Partners news, Director William H. Adams III bought 15,000 shares of the company’s stock in a transaction on Friday, November 10th. The stock was purchased at an average cost of $17.60 per share, for a total transaction of $264,000.00. Following the acquisition, the director now owns 73,784 shares of the company’s stock, valued at approximately $1,298,598.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Global Endowment Management, L sold 1,500,000 shares of TXO Partners stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $17.10, for a total transaction of $25,650,000.00. Following the transaction, the insider now owns 1,139,098 shares of the company’s stock, valued at approximately $19,478,575.80. The disclosure for this sale can be found here.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXO. King Luther Capital Management Corp acquired a new stake in TXO Partners during the 1st quarter valued at $59,544,000. CIBC Private Wealth Group LLC purchased a new stake in TXO Partners in the 1st quarter valued at about $23,053,000. Raymond James & Associates increased its stake in shares of TXO Partners by 1.3% during the 3rd quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after acquiring an additional 3,331 shares during the last quarter. Barclays PLC lifted its holdings in shares of TXO Partners by 1.8% during the 2nd quarter. Barclays PLC now owns 233,565 shares of the company’s stock worth $5,057,000 after acquiring an additional 4,107 shares during the period. Finally, American Century Companies Inc. purchased a new position in shares of TXO Partners during the 1st quarter worth about $1,542,000. 17.05% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Company Profile

TXO Partners L.P. 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.