TXO Partners (NYSE:TXO) Shares Gap Down – Time to Sell?

TXO Partners, L.P. (NYSE:TXO) gapped down prior to trading on Friday . The stock had previously closed at $17.70, but opened at $17.33. TXO Partners shares last traded at $17.70, with a volume of 24,491 shares.

TXO Partners Stock Up 1.2 %

The company has a market cap of $733.11 million, a PE ratio of -3.00 and a beta of 0.11. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The company’s 50 day moving average is $18.49 and its 200 day moving average is $18.87.

TXO Partners Increases Dividend

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

Institutional Investors Weigh In On TXO Partners

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

About TXO Partners

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.