TXO Partners (NYSE:TXO) Shares Gap Down – Here’s What Happened

TXO Partners, L.P. (NYSE:TXO)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $17.70, but opened at $17.33. TXO Partners shares last traded at $17.70, with a volume of 24,491 shares changing hands.

TXO Partners Price Performance

The company has a market cap of $733.11 million, a price-to-earnings ratio of -3.02 and a beta of 0.11. The company has a 50-day simple moving average of $18.49 and a 200-day simple moving average of $18.87. 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 disclosed a quarterly dividend, which was paid on Friday, November 22nd. Investors of record on Friday, November 15th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 12.95%. The ex-dividend date was Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57. TXO Partners’s dividend payout ratio is currently -39.06%.

Institutional Investors Weigh In On TXO Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of TXO Partners by 1,127.0% during the 2nd 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 period. Clear Street Derivatives LLC acquired a new position in TXO Partners during the third quarter worth about $8,059,000. Pin Oak Investment Advisors Inc. increased its holdings in 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 buying an additional 19,241 shares in the last quarter. Raymond James & Associates lifted its position in shares of TXO Partners by 43.4% during the 2nd 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 period. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of TXO Partners during the 2nd quarter worth approximately $4,032,000. 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.