TXO Partners (NYSE:TXO) Upgraded at Zacks Research

Zacks Research upgraded shares of TXO Partners (NYSE:TXO) from a strong sell rating to a hold rating in a research report released on Monday,Zacks.com reports.

A number of other analysts also recently weighed in on TXO. Raymond James Financial dropped their target price on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating for the company in a research report on Tuesday, September 9th. Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a research report on Saturday, September 13th. Weiss Ratings downgraded TXO Partners from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, Stifel Nicolaus dropped their target price on TXO Partners from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $20.50.

TXO Partners Stock Performance

NYSE:TXO opened at $13.20 on Monday. The business has a 50 day moving average of $13.74 and a 200 day moving average of $14.89. The company has a market capitalization of $723.10 million, a price-to-earnings ratio of 40.00 and a beta of 0.09. TXO Partners has a 1-year low of $12.61 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 business 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 annualized dividend and a yield of 13.6%. TXO Partners’s payout ratio is presently 545.45%.

Hedge Funds Weigh In On TXO Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. State of Wyoming bought a new position in shares of TXO Partners during the second quarter valued at approximately $45,000. Arlington Trust Co LLC bought a new position in shares of TXO Partners during the third quarter valued at approximately $56,000. CWM LLC bought a new position in shares of TXO Partners during the first quarter valued at approximately $77,000. Corient Private Wealth LLC bought a new position in shares of TXO Partners during the second quarter valued at approximately $150,000. Finally, Apollon Wealth Management LLC bought a new position in shares of TXO Partners during the second quarter valued at approximately $152,000. Institutional investors 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.