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

TXO Partners, L.P. (NYSE:TXO) shares saw strong trading volume on Monday . 213,476 shares changed hands during trading, an increase of 179% from the previous session’s volume of 76,568 shares.The stock last traded at $16.57 and had previously closed at $16.81.

TXO Partners Price Performance

The stock has a market cap of $690.20 million, a PE ratio of -2.84 and a beta of 0.08. The business’s 50 day moving average price is $16.93. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a $0.58 dividend. The ex-dividend date was Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 13.75%. TXO Partners’s payout ratio is -39.06%.

Insider Activity

In other news, Director Keith A. Hutton acquired 60,000 shares of TXO Partners stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $16.04 per share, with a total value of $962,400.00. Following the acquisition, the director now owns 4,100,215 shares in the company, valued at $65,767,448.60. This represents a 1.49 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Institutional Trading of TXO Partners

A number of institutional investors have recently bought and sold shares of TXO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in TXO Partners during the 3rd quarter worth approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of TXO Partners in the third quarter valued at approximately $559,000. PFG Investments LLC bought a new stake in TXO Partners during the 3rd quarter worth about $639,000. Glenmede Trust Co. NA grew its holdings 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 in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of TXO Partners in the second quarter valued at about $2,126,000. 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.