TXO Partners, L.P. (NYSE:TXO) Stake Lifted by Pin Oak Investment Advisors Inc.

Pin Oak Investment Advisors Inc. increased its stake in TXO Partners, L.P. (NYSE:TXO) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 291,061 shares of the company’s stock after buying an additional 19,241 shares during the quarter. TXO Partners comprises 5.2% of Pin Oak Investment Advisors Inc.’s portfolio, making the stock its 3rd largest position. Pin Oak Investment Advisors Inc. owned about 0.71% of TXO Partners worth $5,757,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TXO. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of TXO Partners during the third quarter worth about $84,000. Glenmede Trust Co. NA raised its position in shares of TXO Partners by 13.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 47,678 shares of the company’s stock valued at $943,000 after purchasing an additional 5,831 shares in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in shares of TXO Partners during the 3rd quarter valued at approximately $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners during the third quarter worth approximately $639,000. Finally, Silverleafe Capital Partners LLC acquired a new stake in TXO Partners in the second quarter valued at $685,000. 27.44% of the stock is currently owned by hedge funds and other institutional investors.

TXO Partners Price Performance

Shares of TXO stock opened at $17.70 on Thursday. The firm has a market cap of $724.11 million, a P/E ratio of -2.98 and a beta of 0.11. The firm has a fifty day moving average of $18.55 and a two-hundred day moving average of $18.90. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. TXO Partners, L.P. has a 1-year low of $17.20 and a 1-year high of $23.56.

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 issued a $0.58 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 13.11%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s payout ratio is currently -39.06%.

TXO Partners 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.