TXO Partners (NYSE:TXO) Sees Large Volume Increase – Time to Buy?

Shares of TXO Partners LP (NYSE:TXO) saw strong trading volume on Tuesday . 423,836 shares changed hands during trading, an increase of 112% from the previous session’s volume of 199,526 shares.The stock last traded at $11.0450 and had previously closed at $11.30.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TXO. Weiss Ratings restated a “hold (c-)” rating on shares of TXO Partners in a research note on Monday. Zacks Research raised TXO Partners from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Stifel Nicolaus reduced their target price on TXO Partners from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Tuesday, October 21st. Raymond James Financial decreased their price objective on TXO Partners from $24.00 to $22.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 9th. Finally, Wall Street Zen downgraded TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.50.

TXO Partners Stock Performance

The stock has a 50 day moving average of $12.76 and a 200 day moving average of $13.98. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.37. The firm has a market cap of $587.79 million, a price-to-earnings ratio of 19.17 and a beta of 0.08.

TXO Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 14th were given a dividend of $0.35 per share. The ex-dividend date was Friday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 13.0%. TXO Partners’s dividend payout ratio (DPR) is currently 350.00%.

Institutional Investors Weigh In On TXO Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in TXO. Energy Income Partners LLC boosted its stake in shares of TXO Partners by 8.7% in the 1st quarter. Energy Income Partners LLC now owns 783,614 shares of the company’s stock valued at $15,014,000 after purchasing an additional 62,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in TXO Partners in the first quarter valued at approximately $13,026,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of TXO Partners during the second quarter worth $946,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its stake in shares of TXO Partners by 307.7% in the 2nd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 530,000 shares of the company’s stock valued at $7,971,000 after acquiring an additional 400,000 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in TXO Partners by 27.5% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 70,777 shares of the company’s stock worth $1,064,000 after acquiring an additional 15,277 shares during the last quarter. 27.44% of the stock is currently owned by institutional investors.

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.