TXO Partners (NYSE:TXO) Sees Strong Trading Volume – Time to Buy?

Shares of TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Monday . 114,310 shares were traded during mid-day trading, an increase of 62% from the previous session’s volume of 70,420 shares.The stock last traded at $16.81 and had previously closed at $16.57.

TXO Partners Price Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The company’s 50-day moving average is $18.09. The firm has a market capitalization of $692.61 million, a P/E ratio of -2.85 and a beta of 0.08.

TXO Partners Increases Dividend

The business 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 dividend on an annualized basis and a yield of 13.70%. 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 -39.06%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Raymond James & Associates grew 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 valued at $4,727,000 after purchasing an additional 70,918 shares during the last quarter. Glenmede Trust Co. NA grew 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 buying 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 worth $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners during the third quarter worth $639,000. Finally, Hsbc Holdings PLC boosted its position in shares of TXO Partners by 89.6% in the second quarter. Hsbc Holdings PLC now owns 150,000 shares of the company’s stock valued at $3,020,000 after acquiring an additional 70,871 shares during the period. 27.44% of the stock is owned by institutional investors.

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.