TXO Partners (NYSE:TXO) Shares Down 2.9% – Time to Sell?

TXO Partners, L.P. (NYSE:TXO)’s stock price was down 2.9% during mid-day trading on Thursday . The company traded as low as $16.75 and last traded at $16.75. Approximately 105,943 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 75,837 shares. The stock had previously closed at $17.25.

TXO Partners Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The company has a 50 day simple moving average of $17.03 and a 200-day simple moving average of $18.26. The stock has a market capitalization of $685.29 million, a P/E ratio of -2.82 and a beta of 0.08.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 13.85%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s dividend payout ratio (DPR) is currently -39.06%.

Insider Transactions at TXO Partners

In related news, Director Keith A. Hutton bought 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was acquired at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the purchase, the director now directly owns 4,100,215 shares in the company, valued at $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors and hedge funds have recently modified their holdings of TXO. Clear Street Derivatives LLC bought a new stake in TXO Partners during the 3rd quarter worth approximately $8,059,000. Pin Oak Investment Advisors Inc. grew its position in shares of TXO Partners by 7.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after purchasing an additional 19,241 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of TXO Partners by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after purchasing an additional 5,831 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of TXO Partners in the third quarter worth $559,000. Finally, PFG Investments LLC purchased a new stake in shares of TXO Partners in the third quarter worth $639,000. 27.44% of the stock is owned by hedge funds and other 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.