TXO Partners (NYSE:TXO) Price Target Cut to $22.00 by Analysts at Raymond James Financial

TXO Partners (NYSE:TXO) had its target price cut by Raymond James Financial from $24.00 to $22.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a strong-buy rating on the stock.

TXO has been the subject of a number of other reports. Wall Street Zen upgraded shares of TXO Partners from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Stifel Nicolaus boosted their target price on shares of TXO Partners from $20.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company’s stock. According to data from MarketBeat.com, TXO Partners has a consensus rating of “Strong Buy” and a consensus target price of $21.50.

TXO Partners Trading Up 1.5%

NYSE TXO opened at $13.60 on Tuesday. The company has a market capitalization of $744.90 million, a PE ratio of 41.21 and a beta of 0.09. The company has a fifty day moving average of $14.60 and a 200 day moving average of $16.20. TXO Partners has a 1 year low of $13.27 and a 1 year high of $20.70. The company has a debt-to-equity ratio of 0.03, a current ratio of 0.97 and a quick ratio of 0.97.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 15th were given a $0.45 dividend. The ex-dividend date was Friday, August 15th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.2%. TXO Partners’s dividend payout ratio is 545.45%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. State of Wyoming acquired a new position in shares of TXO Partners in the second quarter worth about $45,000. Corient Private Wealth LLC acquired a new position in shares of TXO Partners in the second quarter worth about $150,000. Energy Income Partners LLC raised its position in shares of TXO Partners by 15.4% in the second quarter. Energy Income Partners LLC now owns 904,277 shares of the company’s stock worth $13,600,000 after acquiring an additional 120,663 shares during the period. Bank of America Corp DE raised its position in shares of TXO Partners by 420.3% in the second quarter. Bank of America Corp DE now owns 49,238 shares of the company’s stock worth $741,000 after acquiring an additional 39,775 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of TXO Partners by 39.1% in the second quarter. Raymond James Financial Inc. now owns 304,980 shares of the company’s stock worth $4,587,000 after acquiring an additional 85,684 shares during the period. Institutional investors and hedge funds own 27.44% of the company’s stock.

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.