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

Shares of TXO Partners, L.P. (NYSE:TXO) traded down 1.9% on Monday . The company traded as low as $17.81 and last traded at $17.90. 73,726 shares traded hands 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 Performance

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $733.11 million, a price-to-earnings ratio of -3.02 and a beta of 0.11. The stock has a fifty day simple moving average of $18.66 and a two-hundred day simple moving average of $18.96.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a dividend of $0.58 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 annualized dividend and a dividend yield of 12.95%. TXO Partners’s dividend payout ratio (DPR) is -39.06%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently modified their holdings of TXO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners during the 3rd quarter valued at $84,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners during the 3rd quarter worth $559,000. PFG Investments LLC bought a new position in TXO Partners during the 3rd quarter worth $639,000. Silverleafe Capital Partners LLC bought a new position in TXO Partners during the 2nd quarter worth $685,000. Finally, Glenmede Trust Co. NA raised its position in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after purchasing an additional 5,831 shares during the last quarter. Institutional investors and hedge funds 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.