Jennison Associates LLC Has $3.38 Million Holdings in TXO Partners, L.P. (NYSE:TXO)

Jennison Associates LLC decreased its position in shares of TXO Partners, L.P. (NYSE:TXO) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,985 shares of the company’s stock after selling 3,377 shares during the period. Jennison Associates LLC owned 0.60% of TXO Partners worth $3,381,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TXO. Venturi Wealth Management LLC lifted its position in shares of TXO Partners by 64.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 2,300 shares of the company’s stock worth $47,000 after purchasing an additional 900 shares during the last quarter. Raymond James & Associates grew its stake in shares of TXO Partners by 1.3% in the third quarter. Raymond James & Associates now owns 259,653 shares of the company’s stock worth $5,274,000 after acquiring an additional 3,331 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. bought a new position in TXO Partners during the third quarter worth $206,000. 27.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

TXO Partners Stock Performance

TXO opened at $18.75 on Friday. The stock has a market cap of $576.56 million, a PE ratio of -5.65 and a beta of -0.11. TXO Partners, L.P. has a 1 year low of $17.20 and a 1 year high of $23.57. The stock’s 50 day simple moving average is $18.19 and its 200-day simple moving average is $18.20. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to analyst estimates of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. Sell-side analysts forecast that TXO Partners, L.P. will post 1.34 EPS for the current year.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 12.37%. The ex-dividend date was Thursday, March 14th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.52. TXO Partners’s dividend payout ratio is -69.88%.

About TXO Partners

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.