TXO Partners (NYSE:TXO) Shares Down 1.9% - Should You Sell?

TXO Partners, L.P. (NYSE:TXO - Get Free Report) shares dropped 1.9% during trading on Monday . The stock traded as low as $17.81 and last traded at $17.90. Approximately 73,726 shares traded hands during trading, a decline of 10% from the average daily volume of 82,203 shares. The stock had previously closed at $18.24.

TXO Partners Stock Performance

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 $723.29 million, a PE ratio of -2.98 and a beta of 0.11. The stock has a 50 day simple moving average of $18.66 and a two-hundred day simple moving average of $18.96.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were given a dividend of $0.58 per share. This is an increase from TXO Partners's previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 13.12%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners's dividend payout ratio (DPR) is presently -39.06%.

Hedge Funds Weigh In On TXO Partners

Institutional investors have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners in the 3rd quarter worth $84,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in TXO Partners during the third quarter worth about $559,000. PFG Investments LLC acquired a new stake in TXO Partners in the third quarter valued at about $639,000. Silverleafe Capital Partners LLC acquired a new stake in TXO Partners in the second quarter valued at about $685,000. Finally, Glenmede Trust Co. NA boosted its holdings in TXO Partners by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company's stock valued at $943,000 after purchasing an additional 5,831 shares in the last quarter. Institutional investors and hedge funds own 27.44% of the company's stock.

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.