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

TXO Partners, L.P. (NYSE:TXO) shares saw unusually-high trading volume on Tuesday . Approximately 121,586 shares changed 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 stock’s fifty day moving average is $17.62 and its two-hundred day moving average is $18.45. The stock has a market capitalization of $639.06 million, a P/E ratio of -2.64 and a beta of 0.08. 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 14.85%. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s payout ratio is presently -39.06%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TXO. Raymond James & Associates lifted 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 last quarter. Glenmede Trust Co. NA raised its holdings in 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. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXO Partners in the 3rd quarter valued at approximately $559,000. PFG Investments LLC bought a new stake in TXO Partners during the 3rd quarter worth approximately $639,000. Finally, Hsbc Holdings PLC grew its position in TXO Partners by 89.6% during the 2nd quarter. Hsbc Holdings PLC now owns 150,000 shares of the company’s stock worth $3,020,000 after acquiring an additional 70,871 shares during the last quarter. Hedge funds and other 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.