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 Thursday . Approximately 70,398 shares were traded during trading, an increase of 1% from the previous session’s volume of 69,519 shares.The stock last traded at $17.93 and had previously closed at $17.93.

TXO Partners Trading Up 0.7 %

The company has a market cap of $738.83 million, a price-to-earnings ratio of -3.04 and a beta of 0.15. 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 firm has a fifty day moving average price of $16.80 and a 200 day moving average price of $17.86.

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 dividend of $0.58 per share. This is an increase 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 annualized dividend and a yield of 12.85%. TXO Partners’s dividend payout ratio (DPR) is currently -39.06%.

Insider Buying and Selling at TXO Partners

In other TXO Partners news, Director William H. Adams III purchased 14,000 shares of the business’s stock in a transaction on Monday, December 30th. The stock was acquired at an average price of $16.93 per share, with a total value of $237,020.00. Following the acquisition, the director now directly owns 92,784 shares of the company’s stock, valued at $1,570,833.12. This trade represents a 17.77 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Keith A. Hutton bought 60,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the acquisition, the director now directly owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. This represents a 1.49 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 75,500 shares of company stock valued at $1,223,690 in the last quarter.

Institutional Investors Weigh In On TXO Partners

A number of hedge funds and other institutional investors have recently modified their holdings of TXO. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of TXO Partners during the third quarter worth $84,000. Merit Financial Group LLC acquired a new stake in shares of TXO Partners during the fourth quarter worth $505,000. Deroy & Devereaux Private Investment Counsel Inc. acquired a new stake in shares of TXO Partners during the third quarter worth $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners during the third quarter worth $639,000. Finally, CWA Asset Management Group LLC bought a new position in shares of TXO Partners in the fourth quarter worth $654,000. 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.