TXO Partners (NYSE:TXO) Shares Down 2.9% – What’s Next?

TXO Partners, L.P. (NYSE:TXO) dropped 2.9% during trading on Thursday . The stock traded as low as $16.75 and last traded at $16.75. Approximately 105,943 shares changed hands during trading, an increase of 40% from the average daily volume of 75,837 shares. The stock had previously closed at $17.25.

TXO Partners Stock Down 2.9 %

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 fifty day moving average price of $17.03 and a 200 day moving average price of $18.26. The company has a market cap of $685.29 million, a PE ratio of -2.82 and a beta of 0.08.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 13.85%. The ex-dividend date was Friday, November 15th. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s payout ratio is currently -39.06%.

Insider Activity

In other news, Director Keith A. Hutton purchased 60,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was purchased at an average price of $16.04 per share, with a total value of $962,400.00. Following the completion of the purchase, the director now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently modified their holdings of the company. American Century Companies Inc. lifted its position in TXO Partners by 1,127.0% in the 2nd 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 during the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of TXO Partners in the 3rd quarter valued at $8,059,000. Westwood Holdings Group Inc. bought a new position in shares of TXO Partners during the 2nd quarter valued at $4,032,000. Sei Investments Co. purchased a new position in TXO Partners in the 2nd quarter worth $2,126,000. Finally, Raymond James & Associates raised its position in TXO Partners by 43.4% in the 2nd 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 period. 27.44% of the stock is currently owned by 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.