TXO Partners, L.P. (NYSE:TXO) Short Interest Down 35.3% in October

TXO Partners, L.P. (NYSE:TXO - Get Free Report) saw a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 15,400 shares, a drop of 35.3% from the September 30th total of 23,800 shares. Based on an average daily trading volume, of 72,500 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

TXO Partners Stock Performance

NYSE TXO traded down $0.03 on Friday, reaching $19.26. 57,700 shares of the company's stock traded hands, compared to its average volume of 67,380. The stock has a market cap of $595.87 million, a price-to-earnings ratio of -3.29 and a beta of 0.05. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.27. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The business has a 50 day moving average of $19.20.

TXO Partners (NYSE:TXO - Get Free Report) last issued its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The business had revenue of $57.31 million for the quarter, compared to analyst estimates of $63.77 million. As a group, equities research analysts anticipate that TXO Partners will post 0.88 EPS for the current fiscal year.

TXO Partners Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 27th. Stockholders of record on Tuesday, August 20th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a dividend yield of 11.84%. The ex-dividend date was Tuesday, August 20th. TXO Partners's dividend payout ratio (DPR) is presently -38.97%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently bought and sold shares of TXO. PFG Investments LLC acquired a new position in shares of TXO Partners in the 3rd quarter valued at $639,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in TXO Partners during the third quarter valued at about $84,000. Westwood Holdings Group Inc. acquired a new position in shares of TXO Partners in the second quarter worth about $4,032,000. Sei Investments Co. purchased a new position in shares of TXO Partners in the second quarter worth approximately $2,126,000. Finally, Hsbc Holdings PLC raised its holdings 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 period. 27.44% of the stock is currently owned by institutional investors.

About TXO Partners

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.