TXO Partners (NYSE:TXO) Shares Gap Down – Here’s Why

TXO Partners, L.P. (NYSE:TXO) gapped down before the market opened 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 traded.

TXO Partners Price Performance

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 quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $18.49 and a 200-day simple moving average of $18.87.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a $0.58 dividend. 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%. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s payout ratio is presently -39.06%.

Institutional Investors Weigh In On TXO Partners

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

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.