TXO Partners (NYSE:TXO) Stock Price Down 2.5% – Here’s Why

TXO Partners, L.P. (NYSE:TXO) shares fell 2.5% during mid-day trading on Thursday . The company traded as low as $18.52 and last traded at $18.62. 35,050 shares traded hands during 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 stock has a fifty day simple moving average of $19.27 and a two-hundred day simple moving average of $19.39. The firm has a market cap of $576.07 million, a PE ratio of -3.18 and a beta of 0.05. The company has a current ratio of 3.27, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. The firm had revenue of $57.31 million for the quarter, compared to analysts’ expectations of $63.77 million. As a group, sell-side analysts expect that TXO Partners, L.P. will post 0.91 EPS for the current fiscal year.

TXO Partners Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were given a $0.57 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 12.24%. TXO Partners’s dividend payout ratio (DPR) is presently -38.97%.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new stake in TXO Partners in the 3rd quarter worth approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXO Partners in the third quarter worth about $559,000. PFG Investments LLC purchased a new position in TXO Partners during the 3rd quarter valued at about $639,000. Silverleafe Capital Partners LLC bought a new position in TXO Partners during the 2nd quarter valued at approximately $685,000. Finally, Sei Investments Co. purchased a new stake in TXO Partners in the 2nd quarter worth approximately $2,126,000. 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.