TXO Partners (NYSE:TXO) Sees Large Volume Increase – Time to Buy?

TXO Partners, L.P. (NYSE:TXO) shares saw unusually-strong trading volume on Tuesday . Approximately 121,586 shares traded hands during mid-day trading, an increase of 68% from the previous session’s volume of 72,448 shares.The stock last traded at $15.45 and had previously closed at $16.06.

TXO Partners Stock Down 2.7 %

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 has a market capitalization of $639.06 million, a price-to-earnings ratio of -2.64 and a beta of 0.08. The firm’s 50 day simple moving average is $17.62 and its 200-day simple moving average is $18.45.

TXO Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were paid a dividend of $0.58 per share. The ex-dividend date was Friday, November 15th. This is a boost 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 14.85%. TXO Partners’s dividend payout ratio is -39.06%.

Institutional Investors Weigh In On TXO Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James & Associates boosted its position in shares of 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 buying an additional 70,918 shares during the period. Glenmede Trust Co. NA grew its stake in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after purchasing an additional 5,831 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners during the 3rd quarter valued at $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners in the 3rd quarter valued at about $639,000. Finally, Hsbc Holdings PLC raised its stake in shares of TXO Partners by 89.6% in 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 in the last quarter. 27.44% of the stock is currently owned by hedge funds and other 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.