TXO Partners (NYSE:TXO) Hits New 12-Month Low – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO)’s share price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $17.07 and last traded at $17.08, with a volume of 52799 shares. The stock had previously closed at $17.50.

TXO Partners Trading Down 0.7 %

The business’s fifty day moving average price is $18.29 and its 200 day moving average price is $18.80. 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 market capitalization of $711.02 million, a PE ratio of -2.91 and a beta of 0.08.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 13.35%. The ex-dividend date 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 is currently -39.06%.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the business. Clear Street Derivatives LLC purchased a new stake in TXO Partners in the 3rd quarter valued at about $8,059,000. Pin Oak Investment Advisors Inc. grew its holdings in TXO Partners by 7.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after purchasing an additional 19,241 shares during the period. Glenmede Trust Co. NA increased its position in 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 purchasing an additional 5,831 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in TXO Partners during the third quarter worth approximately $559,000. Finally, PFG Investments LLC purchased a new stake in shares of TXO Partners during the 3rd quarter valued at $639,000. 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.