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

TXO Partners, L.P. (NYSE:TXO) shares saw unusually-high trading volume on Monday . Approximately 213,476 shares were traded during mid-day trading, an increase of 179% from the previous session’s volume of 76,568 shares.The stock last traded at $16.57 and had previously closed at $16.81.

TXO Partners Price Performance

The company has a fifty day simple moving average of $16.93. The firm has a market capitalization of $690.20 million, a PE ratio of -2.84 and a beta of 0.08. 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 business also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were given a dividend of $0.58 per share. This is a boost from TXO Partners’s previous quarterly dividend of $0.57. This represents a $2.32 annualized dividend and a yield of 13.75%. The ex-dividend date was Friday, November 15th. TXO Partners’s dividend payout ratio (DPR) is currently -39.06%.

Insiders Place Their Bets

In other TXO Partners news, Director Keith A. Hutton purchased 60,000 shares of TXO Partners stock in a transaction that occurred on Wednesday, December 18th. The stock was bought at an average price of $16.04 per share, with a total value of $962,400.00. Following the acquisition, the director now owns 4,100,215 shares of the company’s stock, valued at $65,767,448.60. This trade represents a 1.49 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of TXO Partners by 1,127.0% in the second quarter. American Century Companies Inc. now owns 1,025,906 shares of the company’s stock worth $20,682,000 after acquiring an additional 942,295 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in shares of TXO Partners during the 3rd quarter valued at about $8,059,000. Pin Oak Investment Advisors Inc. grew its holdings in shares of TXO Partners by 7.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 291,061 shares of the company’s stock valued at $5,757,000 after purchasing an additional 19,241 shares during the period. Westwood Holdings Group Inc. acquired a new stake in TXO Partners during the second quarter worth about $4,032,000. Finally, Hsbc Holdings PLC raised its stake 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 purchasing 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.