TXO Partners (NYSE:TXO) Stock Price Down 3.1% – Here’s Why

Shares of TXO Partners, L.P. (NYSE:TXO) fell 3.1% during mid-day trading on Monday . The stock traded as low as $16.00 and last traded at $16.02. 169,497 shares were traded during trading, an increase of 51% from the average session volume of 112,147 shares. The stock had previously closed at $16.54.

TXO Partners Stock Performance

The company has a 50-day moving average of $17.62 and a 200-day moving average of $18.45. The firm has a market capitalization of $657.06 million, a price-to-earnings ratio of -2.70 and a beta of 0.08. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a $0.58 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a dividend yield of 14.45%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s dividend payout ratio (DPR) is presently -39.06%.

Institutional Investors Weigh In On TXO Partners

A number of institutional investors have recently modified their holdings of the business. Raymond James & Associates lifted its holdings in TXO Partners by 43.4% in the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after acquiring an additional 70,918 shares during the last quarter. Glenmede Trust Co. NA raised its position in shares of 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 period. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXO Partners in the 3rd quarter worth approximately $559,000. PFG Investments LLC acquired a new position in TXO Partners during the 3rd quarter valued at approximately $639,000. Finally, Hsbc Holdings PLC boosted its position in TXO Partners by 89.6% during 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 during the period. 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.