TXO Partners (NYSE:TXO) Sees Strong Trading Volume – What’s Next?

Shares of TXO Partners, L.P. (NYSE:TXO) saw unusually-strong trading volume on Friday . Approximately 204,382 shares changed hands during mid-day trading, an increase of 201% from the previous session’s volume of 67,840 shares.The stock last traded at $18.28 and had previously closed at $18.01.

TXO Partners Stock Performance

The firm has a fifty day simple moving average of $18.73 and a 200 day simple moving average of $19.04. 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 has a market cap of $746.25 million, a price-to-earnings ratio of -3.07 and a beta of 0.11.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 22nd. Investors of record on Friday, November 15th will be paid a dividend of $0.58 per share. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 12.72%. TXO Partners’s dividend payout ratio is presently -39.06%.

Institutional Trading of TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Energy Income Partners LLC raised its holdings in TXO Partners by 37.7% in the 1st quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after acquiring an additional 135,029 shares in the last quarter. Raymond James & Associates raised its stake 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 in the last quarter. Silverleafe Capital Partners LLC bought a new stake in TXO Partners in the 2nd quarter valued at $685,000. American Century Companies Inc. increased its holdings in TXO Partners by 1,127.0% in the 2nd quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock valued at $20,682,000 after buying an additional 942,295 shares during the period. 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 buying an additional 70,871 shares in the last quarter. 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.