Jennison Associates LLC Has $3.38 Million Stake in TXO Partners, L.P. (NYSE:TXO)

Jennison Associates LLC trimmed its position in TXO Partners, L.P. (NYSE:TXO) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 185,985 shares of the company’s stock after selling 3,377 shares during the quarter. Jennison Associates LLC’s holdings in TXO Partners were worth $3,381,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of TXO. Venturi Wealth Management LLC boosted its stake in shares of TXO Partners by 64.3% during the 3rd 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 period. Raymond James Financial Services Advisors Inc. bought a new position in TXO Partners during the third quarter worth $206,000. Finally, Raymond James & Associates increased its holdings in shares of TXO Partners by 1.3% in the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock valued at $5,274,000 after purchasing an additional 3,331 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Stifel Nicolaus cut their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Raymond James reduced their price objective 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

Shares of NYSE TXO opened at $18.75 on Friday. TXO Partners, L.P. has a one year low of $17.20 and a one year high of $23.57. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The firm has a market cap of $576.56 million, a price-to-earnings ratio of -5.65 and a beta of -0.11. The stock’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $18.20.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.26 by $0.72. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. The business had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million. On average, equities analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.37%. This is an increase from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 14th. TXO Partners’s payout ratio is presently -69.88%.

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.