TXO Partners (NYSE:TXO) Shares Gap Down – What’s Next?

Shares of TXO Partners, L.P. (NYSE:TXO) gapped down prior to trading on Friday . The stock had previously closed at $17.70, but opened at $17.33. TXO Partners shares last traded at $17.70, with a volume of 24,491 shares changing hands.

TXO Partners Stock Up 1.2 %

The firm has a market cap of $733.11 million, a price-to-earnings ratio of -3.02 and a beta of 0.11. The firm has a 50 day moving average price of $18.49 and a 200-day moving average price of $18.87. 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 firm also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 12.95%. 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. TXO Partners’s dividend payout ratio is -39.06%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TXO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in TXO Partners during the 3rd quarter valued at $84,000. Glenmede Trust Co. NA increased its position 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. raised its stake in TXO Partners by 7.1% in the 3rd 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. Deroy & Devereaux Private Investment Counsel Inc. purchased a new position in TXO Partners in the 3rd quarter valued at about $559,000. Finally, PFG Investments LLC purchased a new position in TXO Partners in the 3rd quarter valued at about $639,000. 27.44% of the stock is currently owned by institutional investors and hedge funds.

TXO Partners Company 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.