TXO Partners (NYSE:TXO) Trading Down 1.9% – Should You Sell?

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

TXO Partners Stock Down 1.8 %

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $18.66 and a 200-day simple moving average of $18.96. The stock has a market cap of $733.11 million, a P/E ratio of -3.02 and a beta of 0.11.

TXO Partners Increases Dividend

The company 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. 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%. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s dividend payout ratio (DPR) is -39.06%.

Hedge Funds Weigh In On TXO Partners

Large investors have recently made changes to their positions in the company. Raymond James & Associates grew its position in TXO Partners by 43.4% during the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after buying an additional 70,918 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in TXO Partners during the third quarter worth approximately $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners in the 3rd quarter valued at $639,000. Hsbc Holdings PLC boosted its holdings in shares of TXO Partners by 89.6% in the 2nd quarter. Hsbc Holdings PLC now owns 150,000 shares of the company’s stock valued at $3,020,000 after purchasing an additional 70,871 shares in the last quarter. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of TXO Partners in the 2nd quarter valued at $4,032,000. 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.