Pin Oak Investment Advisors Inc. Has $5.76 Million Stake in TXO Partners, L.P. (NYSE:TXO)

Pin Oak Investment Advisors Inc. boosted its stake in shares of TXO Partners, L.P. (NYSE:TXO) by 7.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 291,061 shares of the company’s stock after purchasing an additional 19,241 shares during the quarter. TXO Partners makes up approximately 5.2% of Pin Oak Investment Advisors Inc.’s holdings, making the stock its 3rd largest position. Pin Oak Investment Advisors Inc.’s holdings in TXO Partners were worth $5,757,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA boosted its stake in TXO Partners by 13.9% during 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 period. Deroy & Devereaux Private Investment Counsel Inc. acquired a new position in shares of TXO Partners during the third quarter worth approximately $559,000. PFG Investments LLC bought a new position in TXO Partners in the 3rd quarter worth approximately $639,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of TXO Partners in the third quarter worth $84,000. Finally, Westwood Holdings Group Inc. bought a new stake in shares of TXO Partners during the 2nd quarter worth about $4,032,000. 27.44% of the stock is currently owned by institutional investors.

TXO Partners Price Performance

Shares of NYSE TXO opened at $17.70 on Thursday. TXO Partners, L.P. has a twelve month low of $17.20 and a twelve month high of $23.56. The company has a market capitalization of $724.11 million, a price-to-earnings ratio of -2.98 and a beta of 0.11. The firm has a 50-day moving average of $18.55 and a two-hundred day moving average of $18.90. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25.

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 given a $0.58 dividend. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. The ex-dividend date was Friday, November 15th. This represents a $2.32 annualized dividend and a yield of 13.11%. TXO Partners’s payout ratio is -39.06%.

TXO Partners Profile

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.