TXO Partners, L.P. (NYSE:TXO) Short Interest Down 35.3% in October

by · The Cerbat Gem

TXO Partners, L.P. (NYSE:TXO – Get Free Report) was the target of a significant drop in short interest in October. As of October 15th, there was short interest totalling 15,400 shares, a drop of 35.3% from the September 30th total of 23,800 shares. Based on an average daily volume of 72,500 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in shares of TXO Partners during the third quarter valued at approximately $559,000. PFG Investments LLC bought a new position in TXO Partners in the 3rd quarter valued at approximately $639,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in TXO Partners during the 3rd quarter valued at $84,000. Westwood Holdings Group Inc. bought a new stake in shares of TXO Partners in the 2nd quarter worth $4,032,000. Finally, Sei Investments Co. purchased a new position in shares of TXO Partners in the second quarter worth $2,126,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

TXO Partners Stock Performance

Shares of TXO opened at $19.30 on Tuesday. The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. The stock has a market cap of $597.10 million, a P/E ratio of -3.30 and a beta of 0.05. The business’s 50 day moving average price is $19.23 and its 200-day moving average price is $19.45. TXO Partners has a 52 week low of $17.20 and a 52 week high of $23.56.

TXO Partners (NYSE:TXO – Get Free Report) last released its earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The company had revenue of $57.31 million during the quarter, compared to the consensus estimate of $63.77 million. Equities research analysts anticipate that TXO Partners will post 0.91 earnings per share for the current fiscal year.

TXO Partners Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 27th. Investors of record on Tuesday, August 20th were given a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 11.81%. The ex-dividend date was Tuesday, August 20th. TXO Partners’s dividend payout ratio (DPR) is -38.97%.

About TXO Partners

(Get Free Report)

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.

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