TXO Partners (NYSE:TXO) Hits New 52-Week Low – Should You Sell?

Shares of TXO Partners, L.P. (NYSE:TXO) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $16.03 and last traded at $16.22, with a volume of 96414 shares traded. The stock had previously closed at $16.54.

TXO Partners Trading Down 2.9 %

The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $657.01 million, a price-to-earnings ratio of -2.70 and a beta of 0.08. The business has a 50-day moving average price of $17.74.

TXO Partners Increases Dividend

The business also recently declared 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. This represents a $2.32 dividend on an annualized basis and a dividend yield of 14.45%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s payout ratio is -39.06%.

Institutional Trading of TXO Partners

Hedge funds have recently added to or reduced their stakes in the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of TXO Partners during the 3rd quarter worth approximately $84,000. Glenmede Trust Co. NA raised 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. Pin Oak Investment Advisors Inc. lifted its position in shares of TXO Partners by 7.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after buying an additional 19,241 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in TXO Partners in the 3rd quarter worth about $559,000. Finally, PFG Investments LLC purchased a new stake in TXO Partners in 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.