TXO Partners (NYSE:TXO) Sees Unusually-High Trading Volume – What’s Next?

Shares of TXO Partners, L.P. (NYSE:TXO) saw an uptick in trading volume on Thursday . 70,398 shares changed hands during mid-day 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 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 firm has a market capitalization of $738.83 million, a P/E ratio of -3.04 and a beta of 0.15. The stock’s 50 day simple moving average is $16.80 and its 200 day simple moving average is $17.86.

TXO Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Shareholders of record on Friday, November 15th were paid a $0.58 dividend. This is an increase from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 dividend on an annualized basis and a yield of 12.85%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s dividend payout ratio is currently -39.06%.

Insider Transactions at TXO Partners

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

Institutional Investors Weigh In On TXO Partners

Several hedge funds have recently modified their holdings of TXO. American Century Companies Inc. lifted 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 valued at $20,682,000 after acquiring an additional 942,295 shares during the last quarter. Clear Street Derivatives LLC acquired a new stake in shares of TXO Partners in the third quarter worth $8,059,000. Westwood Holdings Group Inc. acquired a new stake in shares of TXO Partners in the second quarter worth $4,032,000. Sei Investments Co. acquired a new stake in shares of TXO Partners in the second quarter worth $2,126,000. Finally, Hsbc Holdings PLC increased its stake in shares of TXO Partners by 89.6% in 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. Hedge funds and other institutional investors 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.