TXO Partners (NYSE:TXO) Trading Down 2.1%

TXO Partners L.P. (NYSE:TXO)’s share price was down 2.1% on Friday . The company traded as low as $18.60 and last traded at $19.00. Approximately 14,415 shares were traded during mid-day trading, a decline of 7% from the average daily volume of 15,449 shares. The stock had previously closed at $19.40.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TXO shares. Raymond James decreased their target price 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. Stifel Nicolaus lifted their price objective on shares of TXO Partners from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, August 25th.

TXO Partners Stock Down 2.1 %

The business’s 50-day moving average price is $19.66 and its 200 day moving average price is $20.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.94 and a quick ratio of 0.94.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.16). The firm had revenue of $60.47 million for the quarter, compared to the consensus estimate of $66.06 million. On average, research analysts forecast that TXO Partners L.P. will post 0.7 earnings per share for the current fiscal year.

TXO Partners Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 18th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.11%. The ex-dividend date of this dividend was Thursday, August 17th.

Institutional Trading of TXO Partners

A number of hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC acquired a new stake in TXO Partners in the 2nd quarter worth about $30,000. Worth Asset Management LLC acquired a new stake in TXO Partners in the 2nd quarter worth about $31,000. Raymond James Financial Services Advisors Inc. acquired a new stake in TXO Partners in the 3rd quarter worth about $206,000. HighTower Advisors LLC acquired a new stake in TXO Partners in the 1st quarter worth about $251,000. Finally, Royal Bank of Canada raised its stake in TXO Partners by 125.5% in the 2nd quarter. Royal Bank of Canada now owns 16,000 shares of the company’s stock worth $346,000 after purchasing an additional 8,906 shares in the last quarter. Institutional investors and hedge funds own 17.05% of the company’s stock.

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.