TXO Partners (NYSE:TXO) Shares Down 0.6% – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO)’s share price was down 0.6% during trading on Tuesday . The stock traded as low as $16.65 and last traded at $16.83. Approximately 82,451 shares changed hands during trading, a decline of 26% from the average daily volume of 112,147 shares. The stock had previously closed at $16.93.

TXO Partners Trading Up 0.2 %

The firm has a market cap of $689.79 million, a price-to-earnings ratio of -2.84 and a beta of 0.15. The company has a 50 day moving average of $16.70 and a 200 day moving average of $18.05. 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders 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. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 13.76%. TXO Partners’s payout ratio is presently -39.06%.

Insider Activity at TXO Partners

In related news, Director William H. Adams III acquired 14,000 shares of the company’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $16.93 per share, for a total transaction of $237,020.00. Following the transaction, the director now directly owns 92,784 shares of the company’s stock, valued at approximately $1,570,833.12. This trade represents a 17.77 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith A. Hutton bought 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were acquired at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the completion of the transaction, the director now 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 disclosure for this purchase can be found here. Insiders acquired 75,500 shares of company stock valued at $1,223,690 over the last ninety days.

Institutional Trading of TXO Partners

Several institutional investors and hedge funds have recently made changes to their positions in the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners during the third quarter worth $84,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners during the third quarter worth about $559,000. PFG Investments LLC bought a new position in TXO Partners during the third quarter worth about $639,000. CWA Asset Management Group LLC acquired a new position in shares of TXO Partners during the 4th quarter worth about $654,000. Finally, Glenmede Trust Co. NA increased its stake 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 last quarter. 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.