TXO Partners (NYSE:TXO) Sees Strong Trading Volume – Still a Buy?

Shares of TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Monday . 114,310 shares changed hands during trading, an increase of 62% from the previous session’s volume of 70,420 shares.The stock last traded at $16.81 and had previously closed at $16.57.

TXO Partners Stock Up 2.2 %

The company’s fifty day moving average is $18.09. 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 market cap of $692.61 million, a P/E ratio of -2.85 and a beta of 0.08.

TXO Partners Increases Dividend

The firm 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 is a positive change from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 13.70%. The ex-dividend date was Friday, November 15th. TXO Partners’s payout ratio is presently -39.06%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of TXO Partners during the 3rd quarter worth approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in TXO Partners during the third quarter worth $559,000. PFG Investments LLC bought a new stake in TXO Partners during the third quarter worth $639,000. Silverleafe Capital Partners LLC acquired a new stake in TXO Partners in the second quarter valued at $685,000. Finally, Glenmede Trust Co. NA grew its position in shares of TXO Partners by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after acquiring an additional 5,831 shares during the period. 27.44% of the stock is owned by institutional investors and hedge funds.

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.