TXO Partners (NYSE:TXO) Shares Up 1.7%

TXO Partners, L.P. (NYSE:TXO) was up 1.7% during mid-day trading on Thursday . The company traded as high as $18.64 and last traded at $18.52. Approximately 65,169 shares were traded during mid-day trading, an increase of 84% from the average daily volume of 35,472 shares. The stock had previously closed at $18.21.

Analyst Ratings Changes

A number of equities analysts have issued reports on TXO shares. Stifel Nicolaus cut their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Raymond James cut their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th.

TXO Partners Stock Performance

The stock has a fifty day moving average price of $18.15 and a two-hundred day moving average price of $18.20. The company has a market cap of $573.18 million, a P/E ratio of -5.61 and a beta of -0.11. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72. The company had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. On average, equities analysts forecast that TXO Partners, L.P. will post 1.28 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $0.58 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.52. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.32 annualized dividend and a yield of 12.45%. TXO Partners’s payout ratio is presently -69.88%.

Institutional Investors Weigh In On TXO Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC raised its holdings in TXO Partners by 64.3% during the third quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after purchasing an additional 900 shares in the last quarter. Brown Brothers Harriman & Co. acquired a new position in TXO Partners in the fourth quarter worth approximately $183,000. Raymond James Financial Services Advisors Inc. acquired a new position in TXO Partners in the third quarter worth approximately $206,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in TXO Partners in the fourth quarter worth approximately $690,000. Finally, Hsbc Holdings PLC acquired a new position in TXO Partners in the fourth quarter worth approximately $2,685,000. 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.