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

Shares of TXO Partners, L.P. (NYSE:TXO) hit a new 52-week low on Tuesday . The company traded as low as $16.56 and last traded at $16.62, with a volume of 222300 shares trading hands. The stock had previously closed at $16.57.

TXO Partners Stock Performance

The company has a market cap of $679.92 million, a price-to-earnings ratio of -2.80 and a beta of 0.08. The firm’s 50 day simple moving average is $18.02 and its 200-day simple moving average is $18.63. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02.

TXO Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 15th were issued 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 dividend yield of 13.96%. TXO Partners’s dividend payout ratio is presently -39.06%.

Institutional Trading of TXO Partners

Several large investors have recently bought and sold shares of TXO. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of TXO Partners in the third quarter valued at approximately $84,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in TXO Partners in the 3rd quarter valued at $559,000. PFG Investments LLC purchased a new stake in TXO Partners in the 3rd quarter valued at $639,000. Silverleafe Capital Partners LLC purchased a new stake in TXO Partners in the 2nd quarter valued at $685,000. Finally, Glenmede Trust Co. NA grew its holdings in TXO Partners by 13.9% in the 3rd 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. 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.