TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume – Time to Buy?

Shares of TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Tuesday . 121,586 shares changed hands during trading, an increase of 68% from the previous session’s volume of 72,448 shares.The stock last traded at $15.45 and had previously closed at $16.06.

TXO Partners Trading Down 2.7 %

The firm has a market cap of $639.06 million, a price-to-earnings ratio of -2.64 and a beta of 0.08. 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 company has a 50-day moving average price of $17.62 and a 200 day moving average price of $18.45.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 14.85%. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. TXO Partners’s dividend payout ratio is currently -39.06%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Clear Street Derivatives LLC bought a new stake in TXO Partners during the third quarter worth about $8,059,000. Pin Oak Investment Advisors Inc. boosted its stake in TXO Partners by 7.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock worth $5,757,000 after purchasing an additional 19,241 shares in the last quarter. Glenmede Trust Co. NA increased its stake in shares of TXO Partners by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after buying an additional 5,831 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of TXO Partners in the third quarter worth about $559,000. Finally, PFG Investments LLC acquired a new position in shares of TXO Partners during the third quarter worth approximately $639,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.