TXO Partners (NYSE:TXO) Sees Strong Trading Volume – Should You Buy?

TXO Partners, L.P. (NYSE:TXO) shares saw unusually-high trading volume on Friday . Approximately 204,382 shares traded hands during mid-day trading, an increase of 201% from the previous session’s volume of 67,840 shares.The stock last traded at $18.28 and had previously closed at $18.01.

TXO Partners Trading Up 1.3 %

The company has a market capitalization of $746.25 million, a price-to-earnings ratio of -3.07 and a beta of 0.11. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day simple moving average is $18.73 and its 200-day simple moving average is $19.04.

TXO Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 15th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 12.72%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s payout ratio is currently -39.06%.

Institutional Investors Weigh In On TXO Partners

Hedge funds have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of TXO Partners in the third quarter valued at about $84,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of TXO Partners during the 3rd quarter worth approximately $559,000. PFG Investments LLC bought a new position in shares of TXO Partners during the third quarter worth approximately $639,000. Silverleafe Capital Partners LLC acquired a new stake in shares of TXO Partners in the second quarter valued at approximately $685,000. Finally, 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 valued at $943,000 after buying an additional 5,831 shares during the period. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.