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

Shares of TXO Partners, L.P. (NYSE:TXO) reached a new 52-week low during trading on Monday . The stock traded as low as $16.03 and last traded at $16.22, with a volume of 96414 shares changing hands. 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 PE ratio of -2.70 and a beta of 0.08. The stock has a 50 day simple moving average of $17.74.

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 paid a dividend of $0.58 per share. This is an increase 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 dividend yield of 14.45%. TXO Partners’s dividend payout ratio is -39.06%.

Hedge Funds Weigh In On TXO Partners

Several institutional investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of 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 worth $20,682,000 after purchasing an additional 942,295 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in TXO Partners in the 3rd quarter valued at $8,059,000. Westwood Holdings Group Inc. purchased a new position in TXO Partners during the 2nd quarter worth $4,032,000. Sei Investments Co. acquired a new stake in shares of TXO Partners in the 2nd quarter worth $2,126,000. Finally, Raymond James & Associates boosted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 27.44% of the company’s stock.

TXO Partners Company 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.