TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume – Should You Buy?

Shares of TXO Partners, L.P. (NYSE:TXO) saw unusually-high trading volume on Tuesday . Approximately 121,586 shares changed hands during 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 firm has a 50 day moving average price of $17.62 and a 200-day moving average price of $18.45. 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 firm has a market cap of $639.06 million, a price-to-earnings ratio of -2.64 and a beta of 0.08.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were paid a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 14.85%. The ex-dividend date of this dividend was Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s dividend payout ratio (DPR) is -39.06%.

Institutional Trading of TXO Partners

A number of hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners in the third quarter valued at approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of TXO Partners in the third quarter valued at approximately $559,000. PFG Investments LLC bought a new stake in shares of TXO Partners in the 3rd quarter valued at about $639,000. Silverleafe Capital Partners LLC acquired a new stake in shares of TXO Partners in the second quarter valued at approximately $685,000. Finally, Glenmede Trust Co. NA boosted its stake in shares of TXO Partners by 13.9% during the 3rd 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 period. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.