TXO Partners (NYSE:TXO) Sees Large Volume Increase – Here’s Why

Shares of TXO Partners, L.P. (NYSE:TXO) saw strong trading volume on Friday . 204,382 shares traded hands 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 Stock Performance

The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $746.25 million, a price-to-earnings ratio of -3.07 and a beta of 0.11. The stock has a 50-day moving average price of $18.73 and a 200-day moving average price of $19.04.

TXO Partners Increases Dividend

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

Hedge Funds Weigh In On TXO Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. Energy Income Partners LLC increased its stake in TXO Partners by 37.7% in the first quarter. Energy Income Partners LLC now owns 493,438 shares of the company’s stock valued at $8,857,000 after acquiring an additional 135,029 shares during the last quarter. Raymond James & Associates increased 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 valued at $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 during the 2nd quarter worth $685,000. American Century Companies Inc. boosted its holdings in shares of TXO Partners by 1,127.0% in the 2nd quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after buying an additional 942,295 shares during the last quarter. Finally, Hsbc Holdings PLC grew 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 valued at $3,020,000 after buying an additional 70,871 shares during the period. 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.