TXO Partners (NYSE:TXO) Sets New 52-Week Low – Time to Sell?

TXO Partners, L.P. (NYSE:TXO)’s stock price reached a new 52-week low during trading on Wednesday . The company traded as low as $17.07 and last traded at $17.08, with a volume of 52799 shares trading hands. The stock had previously closed at $17.50.

TXO Partners Stock Performance

The stock’s 50-day moving average price is $18.29 and its 200 day moving average price is $18.80. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The company has a market cap of $711.02 million, a P/E ratio of -2.93 and a beta of 0.08.

TXO Partners Increases Dividend

The company 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. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend was Friday, November 15th. This represents a $2.32 dividend on an annualized basis and a yield of 13.35%. TXO Partners’s payout ratio is currently -39.06%.

Institutional Investors Weigh In On TXO Partners

Several hedge funds and other institutional investors have recently made changes to their positions in TXO. Raymond James & Associates lifted its position in shares of TXO Partners by 43.4% during the 2nd quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock worth $4,727,000 after purchasing an additional 70,918 shares during the last quarter. Silverleafe Capital Partners LLC bought a new stake in shares of TXO Partners in the second quarter valued at approximately $685,000. American Century Companies Inc. increased its position in TXO Partners by 1,127.0% during the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after acquiring an additional 942,295 shares during the period. Hsbc Holdings PLC increased its position in TXO Partners by 89.6% during the second quarter. Hsbc Holdings PLC now owns 150,000 shares of the company’s stock worth $3,020,000 after acquiring an additional 70,871 shares during the period. Finally, Sei Investments Co. acquired a new position in TXO Partners during the 2nd quarter valued at $2,126,000. 27.44% of the stock is 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.