TXO Partners (NYSE:TXO) Reaches New 52-Week Low – Time to Sell?
by Amy Steele · The Cerbat GemTXO Partners LP (NYSE:TXO – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $10.48 and last traded at $10.56, with a volume of 71305 shares trading hands. The stock had previously closed at $10.60.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Wall Street Zen cut TXO Partners from a “hold” rating to a “sell” rating in a report on Saturday, September 13th. Zacks Research raised TXO Partners from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings restated a “hold (c-)” rating on shares of TXO Partners in a report on Monday. Stifel Nicolaus lowered their price target on shares of TXO Partners from $21.00 to $19.00 and set a “buy” rating for the company in a report on Tuesday, October 21st. Finally, Raymond James Financial dropped their price target on shares of 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.50.
Check Out Our Latest Research Report on TXO
TXO Partners Price Performance
The company has a market cap of $580.12 million, a PE ratio of 26.50 and a beta of 0.08. The firm’s 50-day moving average is $12.60 and its 200-day moving average is $13.88. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.37.
TXO Partners Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, November 21st. Stockholders of record on Friday, November 14th were issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 13.2%. The ex-dividend date was Friday, November 14th. TXO Partners’s payout ratio is 350.00%.
Institutional Investors Weigh In On TXO Partners
Hedge funds have recently bought and sold shares of the business. CIBC Bancorp USA Inc. bought a new position in shares of TXO Partners during the third quarter valued at approximately $25,402,000. Global Endowment Management LP increased its position in TXO Partners by 54.9% during the 3rd quarter. Global Endowment Management LP now owns 2,686,017 shares of the company’s stock valued at $37,739,000 after buying an additional 952,257 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in TXO Partners during the first quarter valued at $13,026,000. King Luther Capital Management Corp boosted its stake in TXO Partners by 19.9% in the 2nd quarter. King Luther Capital Management Corp now owns 3,071,796 shares of the company’s stock worth $46,200,000 after purchasing an additional 510,266 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of TXO Partners by 40.7% in the second quarter. American Century Companies Inc. now owns 1,490,548 shares of the company’s stock worth $22,418,000 after buying an additional 431,234 shares in the last quarter. Institutional investors own 27.44% of the company’s stock.
About TXO Partners
TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.
The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.