TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume – What’s Next?

TXO Partners, L.P. (NYSE:TXO) shares saw strong trading volume on Thursday . 70,398 shares traded hands during trading, an increase of 1% from the previous session’s volume of 69,519 shares.The stock last traded at $17.93 and had previously closed at $17.93.

TXO Partners Trading Up 0.7 %

The company has a market cap of $738.83 million, a price-to-earnings ratio of -3.04 and a beta of 0.15. 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 company’s 50-day moving average is $16.80 and its 200 day moving average is $17.86.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were given a $0.58 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 annualized dividend and a dividend yield of 12.85%. TXO Partners’s dividend payout ratio (DPR) is -39.06%.

Insider Transactions at TXO Partners

In other news, Director William H. Adams III bought 14,000 shares of TXO Partners stock in a transaction on Monday, December 30th. The shares were bought at an average cost of $16.93 per share, with a total value of $237,020.00. Following the completion of the purchase, the director now directly owns 92,784 shares of the company’s stock, valued at approximately $1,570,833.12. This trade represents a 17.77 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, for a total transaction of $962,400.00. Following the completion of the purchase, the director now directly owns 4,100,215 shares of the company’s stock, valued at $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 75,500 shares of company stock valued at $1,223,690.

Hedge Funds Weigh In On TXO Partners

A number of institutional investors have recently bought and sold shares of the company. American Century Companies Inc. raised its stake in TXO Partners by 1,127.0% during the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after purchasing an additional 942,295 shares during the period. Clear Street Derivatives LLC acquired a new stake in shares of TXO Partners during the third quarter valued at about $8,059,000. Pin Oak Investment Advisors Inc. increased its position in shares of TXO Partners by 7.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after acquiring an additional 19,241 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of TXO Partners during the second quarter valued at about $4,032,000. Finally, Hsbc Holdings PLC increased its position in shares of TXO Partners by 89.6% during 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 last quarter. 27.44% of the stock is owned by hedge funds and other 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.