TXO Partners (NYSE:TXO) Reaches New 12-Month Low – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $17.07 and last traded at $17.08, with a volume of 52799 shares changing hands. The stock had previously closed at $17.50.

TXO Partners Stock Down 0.7 %

The business has a fifty day moving average price of $18.29 and a two-hundred day moving average price of $18.80. The company has a market cap of $711.02 million, a price-to-earnings ratio of -2.93 and a beta of 0.08. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25.

TXO Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a dividend of $0.58 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 dividend on an annualized basis and a yield of 13.35%. TXO Partners’s dividend payout ratio (DPR) is presently -39.06%.

Hedge Funds Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TXO. Clear Street Derivatives LLC bought a new stake in TXO Partners in the third quarter worth approximately $8,059,000. Pin Oak Investment Advisors Inc. boosted its holdings in TXO Partners by 7.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock worth $5,757,000 after purchasing an additional 19,241 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in TXO Partners by 13.9% during 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 in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in TXO Partners during the third quarter valued at about $559,000. Finally, PFG Investments LLC bought a new stake in shares of TXO Partners during the 3rd quarter worth about $639,000. Institutional investors own 27.44% of the company’s stock.

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.