Simplex Trading LLC Acquires New Position in TXO Partners LP $TXO

Simplex Trading LLC bought a new stake in TXO Partners LP (NYSE:TXO) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 13,192 shares of the company’s stock, valued at approximately $198,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CWM LLC acquired a new stake in shares of TXO Partners in the 1st quarter worth approximately $77,000. Apollon Wealth Management LLC purchased a new stake in TXO Partners during the second quarter worth $152,000. Atria Wealth Solutions Inc. grew its holdings in TXO Partners by 25.0% in the second quarter. Atria Wealth Solutions Inc. now owns 15,000 shares of the company’s stock valued at $229,000 after purchasing an additional 3,000 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in TXO Partners in the second quarter valued at $946,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of TXO Partners by 11.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company’s stock valued at $1,063,000 after buying an additional 5,500 shares in the last quarter. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Price Performance

TXO Partners stock opened at $13.55 on Friday. The stock has a market capitalization of $742.00 million, a P/E ratio of 33.86 and a beta of 0.08. TXO Partners LP has a 12-month low of $12.61 and a 12-month high of $20.70. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.48 and a quick ratio of 0.48. The firm’s 50-day moving average is $13.61 and its two-hundred day moving average is $14.62.

TXO Partners Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 14th will be given a dividend of $0.35 per share. The ex-dividend date is Friday, November 14th. This represents a $1.40 dividend on an annualized basis and a yield of 10.3%. TXO Partners’s dividend payout ratio (DPR) is 450.00%.

Analyst Ratings Changes

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

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.