TXO Partners (NYSE:TXO) Shares Down 0% – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO)’s share price fell 0% on Thursday . The company traded as low as $19.25 and last traded at $19.43. 21,350 shares were traded during mid-day trading, a decline of 68% from the average session volume of 66,474 shares. The stock had previously closed at $19.43.

TXO Partners Price Performance

The business has a fifty day moving average of $18.87 and a 200-day moving average of $19.77. The company has a current ratio of 3.27, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. The firm has a market cap of $601.74 million, a PE ratio of -3.32 and a beta of 0.05.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $57.31 million for the quarter, compared to the consensus estimate of $63.77 million. As a group, research analysts predict that TXO Partners, L.P. will post 0.98 earnings per share for the current year.

TXO Partners Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 11.72%. The ex-dividend date was Tuesday, August 20th. TXO Partners’s dividend payout ratio is currently -38.97%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. boosted 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 buying an additional 942,295 shares in the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of TXO Partners in the 2nd quarter valued at $4,032,000. Energy Income Partners LLC grew its holdings in shares of TXO Partners by 37.7% during the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after purchasing an additional 135,029 shares during the last quarter. Sei Investments Co. purchased a new position in TXO Partners in the 2nd quarter worth $2,126,000. Finally, Raymond James & Associates lifted its stake in TXO Partners by 43.4% in the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after purchasing an additional 70,918 shares during the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

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.