TXO Partners (NYSE:TXO) Stock Price Down 2.5% – What’s Next?

TXO Partners, L.P. (NYSE:TXO) fell 2.5% on Thursday . The company traded as low as $18.52 and last traded at $18.62. 35,050 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 50,333 shares. The stock had previously closed at $19.09.

TXO Partners Stock Down 2.5 %

The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The business has a 50-day simple moving average of $19.27 and a 200-day simple moving average of $19.39. The company has a market cap of $576.07 million, a PE ratio of -3.18 and a beta of 0.05.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The business had revenue of $57.31 million for the quarter, compared to analyst estimates of $63.77 million. Equities research analysts anticipate that TXO Partners, L.P. will post 0.91 EPS for the current year.

TXO Partners Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Shareholders of record on Tuesday, August 20th were issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 12.24%. The ex-dividend date was Tuesday, August 20th. TXO Partners’s payout ratio is -38.97%.

Institutional Trading of TXO Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of TXO Partners in the third quarter valued at approximately $559,000. PFG Investments LLC purchased a new stake in shares of TXO Partners during the third quarter worth approximately $639,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in TXO Partners in the 3rd quarter valued at $84,000. Westwood Holdings Group Inc. purchased a new position in TXO Partners in the 2nd quarter valued at $4,032,000. Finally, Sei Investments Co. purchased a new position in TXO Partners in the 2nd quarter valued at $2,126,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.