TXO Partners (NYSE:TXO) Trading Down 3.1% - What's Next?

TXO Partners, L.P. (NYSE:TXO - Get Free Report) fell 3.1% on Monday . The stock traded as low as $16.00 and last traded at $16.02. 169,497 shares traded hands during trading, an increase of 51% from the average session volume of 112,147 shares. The stock had previously closed at $16.54.

TXO Partners Trading Down 1.7 %

The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $645.61 million, a PE ratio of -2.66 and a beta of 0.08. The stock has a 50 day moving average price of $17.49 and a 200-day moving average price of $18.42.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a $0.58 dividend. This is an increase from TXO Partners's previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 14.70%. TXO Partners's dividend payout ratio (DPR) is presently -39.06%.

Institutional Investors Weigh In On TXO Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Clear Street Derivatives LLC bought a new position in shares of TXO Partners in the third quarter worth approximately $8,059,000. Pin Oak Investment Advisors Inc. lifted its position in shares of 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 acquiring an additional 19,241 shares in the last quarter. Glenmede Trust Co. NA boosted its stake in shares of TXO Partners by 13.9% in the third quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company's stock worth $943,000 after acquiring an additional 5,831 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of TXO Partners during the third quarter worth about $559,000. Finally, PFG Investments LLC bought a new stake in TXO Partners during the 3rd quarter valued at approximately $639,000. 27.44% of the stock is currently owned by hedge funds and other 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.