TXO Partners (NYSE:TXO) Shares Down 2.9% – Time to Sell?

TXO Partners, L.P. (NYSE:TXO)’s stock price traded down 2.9% during mid-day trading on Thursday . The company traded as low as $16.75 and last traded at $16.75. 105,943 shares traded hands during trading, an increase of 40% from the average session volume of 75,837 shares. The stock had previously closed at $17.25.

TXO Partners Stock Down 2.9 %

The stock has a fifty day moving average price of $17.03 and a 200-day moving average price of $18.26. The firm has a market cap of $685.29 million, a PE ratio of -2.82 and a beta of 0.08. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02.

TXO Partners Increases Dividend

The firm also recently declared 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 represents a $2.32 dividend on an annualized basis and a yield of 13.85%. 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. TXO Partners’s dividend payout ratio is -39.06%.

Insider Buying and Selling at TXO Partners

In other news, Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction dated Wednesday, December 18th. The shares were acquired at an average cost of $16.04 per share, with a total value of $962,400.00. Following the completion of the transaction, the director now owns 4,100,215 shares in the company, valued at approximately $65,767,448.60. This trade represents a 1.49 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Clear Street Derivatives LLC acquired a new stake in shares of TXO Partners in the 3rd quarter valued at about $8,059,000. Pin Oak Investment Advisors Inc. increased its stake in TXO Partners by 7.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after purchasing an additional 19,241 shares during the last quarter. Glenmede Trust Co. NA lifted 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 worth $943,000 after buying an additional 5,831 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of TXO Partners in the 3rd quarter valued at about $559,000. Finally, PFG Investments LLC bought a new stake in shares of TXO Partners during the 3rd quarter valued at about $639,000. Institutional investors and hedge funds 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.