TXO Partners (NYSE:TXO) Stock Price Down 2.5% - Time to Sell?

Shares of TXO Partners, L.P. (NYSE:TXO - Get Free Report) were down 2.5% on Thursday . The stock traded as low as $18.52 and last traded at $18.62. Approximately 35,050 shares traded hands during trading, a decline of 30% from the average daily volume of 50,333 shares. The stock had previously closed at $19.09.

TXO Partners Trading Down 0.9 %

The company has a fifty day simple moving average of $19.25 and a two-hundred day simple moving average of $19.36. The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $708.72 million, a P/E ratio of -3.25 and a beta of 0.05.

TXO Partners (NYSE:TXO - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.10). The business had revenue of $57.31 million for the quarter, compared to the consensus estimate of $63.77 million. TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. On average, sell-side analysts expect that TXO Partners, L.P. will post 0.91 earnings per share for the current 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 issued a $0.57 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 12.36%. TXO Partners's dividend payout ratio (DPR) is -40.14%.

Institutional Trading of TXO Partners

A number of institutional investors have recently modified their holdings of TXO. American Century Companies Inc. increased its position in shares of TXO Partners by 1,127.0% in the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company's stock valued at $20,682,000 after acquiring an additional 942,295 shares during the last quarter. Energy Income Partners LLC increased its position in shares of TXO Partners by 37.7% in the first 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 during the last quarter. Raymond James & Associates increased its position 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 acquiring an additional 70,918 shares during the last quarter. Westwood Holdings Group Inc. acquired a new stake in shares of TXO Partners in the second quarter valued at about $4,032,000. Finally, Hsbc Holdings PLC increased its position in shares of TXO Partners by 89.6% in 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 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.