TXO Partners (NYSE:TXO) Trading Down 0.6% – Here’s Why

Shares of TXO Partners, L.P. (NYSE:TXO) fell 0.6% during mid-day trading on Tuesday . The company traded as low as $16.65 and last traded at $16.83. 82,451 shares were traded during mid-day trading, a decline of 26% from the average session volume of 112,147 shares. The stock had previously closed at $16.93.

TXO Partners Trading Up 0.2 %

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 market cap of $689.79 million, a price-to-earnings ratio of -2.84 and a beta of 0.15. The firm’s fifty day moving average price is $16.70 and its 200-day moving average price is $18.05.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a $0.58 dividend. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 13.76%. The ex-dividend date was Friday, November 15th. TXO Partners’s dividend payout ratio (DPR) is currently -39.06%.

Insiders Place Their Bets

In related news, Director William H. Adams III acquired 14,000 shares of TXO Partners stock in a transaction dated Monday, December 30th. The stock was acquired at an average cost of $16.93 per share, with a total value of $237,020.00. Following the purchase, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. The trade was a 17.77 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Keith A. Hutton acquired 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the acquisition, the director now owns 4,100,215 shares in the company, valued at approximately $65,767,448.60. This trade represents a 1.49 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 75,500 shares of company stock worth $1,223,690.

Hedge Funds Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in TXO Partners during the 3rd quarter valued at about $84,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXO Partners in the third quarter valued at approximately $559,000. PFG Investments LLC bought a new position in shares of TXO Partners during the 3rd quarter worth about $639,000. CWA Asset Management Group LLC acquired a new position in shares of TXO Partners during the fourth quarter valued at about $654,000. Finally, Glenmede Trust Co. NA increased its position in shares of TXO Partners by 13.9% during the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after purchasing an additional 5,831 shares during the period. Institutional investors and hedge funds 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.