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

Shares of TXO Partners, L.P. (NYSE:TXO) saw unusually-strong trading volume on Friday . Approximately 204,382 shares were traded during trading, an increase of 201% from the previous session’s volume of 67,840 shares.The stock last traded at $18.28 and had previously closed at $18.01.

TXO Partners Price Performance

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 stock has a 50 day moving average of $18.73 and a two-hundred day moving average of $19.04. The stock has a market cap of $746.25 million, a PE ratio of -3.07 and a beta of 0.11.

TXO Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Friday, November 15th will be paid a dividend of $0.58 per share. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date is Friday, November 15th. This represents a $2.32 annualized dividend and a dividend yield of 12.72%. TXO Partners’s dividend payout ratio is -39.06%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Clear Street Derivatives LLC acquired a new stake in shares of TXO Partners in the third quarter valued at $8,059,000. Pin Oak Investment Advisors Inc. lifted its holdings 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 worth $5,757,000 after acquiring an additional 19,241 shares in the last quarter. Glenmede Trust Co. NA lifted its stake in 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 in the last quarter. Deroy & Devereaux Private Investment Counsel Inc. bought a new stake in shares of TXO Partners during the third quarter worth $559,000. Finally, PFG Investments LLC acquired a new stake in shares of TXO Partners during the third quarter worth $639,000. 27.44% of the stock is owned by institutional investors.

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.