TXO Partners (NYSE:TXO) Shares Down 1.9% – Time to Sell?

TXO Partners, L.P. (NYSE:TXO)’s stock price dropped 1.9% during trading on Monday . The company traded as low as $17.81 and last traded at $17.90. Approximately 73,726 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 82,203 shares. The stock had previously closed at $18.24.

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 business has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $18.96. The firm has a market capitalization of $733.11 million, a PE ratio of -3.02 and a beta of 0.11.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.58 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.95%. TXO Partners’s dividend payout ratio is currently -39.06%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. American Century Companies Inc. grew its stake in TXO Partners by 1,127.0% in the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after purchasing an additional 942,295 shares in the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of TXO Partners during the 3rd quarter valued at $8,059,000. Pin Oak Investment Advisors Inc. lifted its holdings 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 during the last quarter. Raymond James & Associates raised its stake in TXO Partners by 43.4% in the 2nd quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after acquiring an additional 70,918 shares during the last quarter. Finally, Westwood Holdings Group Inc. purchased a new position in TXO Partners in the 2nd quarter worth $4,032,000. Institutional investors own 27.44% of the company’s stock.

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.