Yes. You can load .x files directly with the loadModel method:
myModel=loader.loadModel("model.x")
As well as for these formats, you can load these also directly:
Bam .bam
Egg .egg
MultiGen .flt
Lightwave .lwo
DXF .dxf
VRML .wrl
DirectX .x
The moment you do loadModel, Panda3D will automatically convert the format and load it like any other model file.