TXO Partners (NYSE:TXO) Reaches New 52-Week Low – What’s Next?

TXO Partners, L.P. (NYSE:TXO)’s stock price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $16.03 and last traded at $16.22, with a volume of 96414 shares. The stock had previously closed at $16.54.

TXO Partners Trading Down 2.9 %

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 cap of $657.01 million, a price-to-earnings ratio of -2.70 and a beta of 0.08. The company’s fifty day moving average price is $17.74.

TXO Partners Increases Dividend

The business also recently declared 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 a positive change from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 14.45%. The ex-dividend date of this dividend was Friday, November 15th. TXO Partners’s dividend payout ratio is currently -39.06%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its position in TXO Partners by 43.4% in the second quarter. Raymond James & Associates now owns 234,488 shares of the company’s stock valued at $4,727,000 after acquiring an additional 70,918 shares during the last quarter. Glenmede Trust Co. NA lifted its holdings in shares of 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 purchasing an additional 5,831 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of TXO Partners in the 3rd quarter valued at about $559,000. PFG Investments LLC acquired a new stake in shares of TXO Partners in the 3rd quarter valued at about $639,000. Finally, 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 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.