TXO Partners (NYSE:TXO) Sees Strong Trading Volume – Here’s Why

TXO Partners, L.P. (NYSE:TXO) shares saw an uptick in trading volume on Thursday . 70,398 shares were traded during trading, an increase of 1% from the previous session’s volume of 69,519 shares.The stock last traded at $17.93 and had previously closed at $17.93.

TXO Partners Trading Up 0.7 %

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 firm has a market cap of $738.83 million, a price-to-earnings ratio of -3.04 and a beta of 0.15. The company’s 50-day moving average is $16.80 and its 200-day moving average is $17.86.

TXO Partners Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Friday, November 15th. 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 yield of 12.85%. TXO Partners’s dividend payout ratio is presently -39.06%.

Insider Buying and Selling at TXO Partners

In other news, Director Keith A. Hutton purchased 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $16.04 per share, for a total transaction of $962,400.00. Following the transaction, the director now directly owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. The trade was a 1.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director William H. Adams III purchased 14,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was purchased at an average price of $16.93 per share, for a total transaction of $237,020.00. Following the completion of the transaction, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. This trade represents a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 75,500 shares of company stock worth $1,223,690.

Institutional Trading of TXO Partners

A number of hedge funds have recently modified their holdings of the company. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners in the 3rd quarter valued at approximately $84,000. Glenmede Trust Co. NA increased its stake in TXO Partners by 13.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock worth $943,000 after purchasing an additional 5,831 shares in the last quarter. Pin Oak Investment Advisors Inc. increased its stake in TXO Partners by 7.1% during the 3rd 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. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in TXO Partners during the 3rd quarter worth approximately $559,000. Finally, Merit Financial Group LLC bought a new stake in TXO Partners during the 4th quarter worth approximately $505,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

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.