TXO Partners, L.P. (NYSE:TXO) Plans Quarterly Dividend of $0.61

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 dividend on an annualized basis and a yield of 12.82%. The ex-dividend date is Friday, March 14th. This is a 5.2% increase from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 145.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect TXO Partners to earn $1.91 per share next year, which means the company may not be able to cover its $2.32 annual dividend with an expected future payout ratio of 121.5%.

TXO Partners Trading Up 2.1 %

Shares of TXO traded up $0.40 during mid-day trading on Wednesday, reaching $19.03. The company had a trading volume of 95,064 shares, compared to its average volume of 133,499. The stock has a market cap of $778.57 million, a price-to-earnings ratio of -3.20 and a beta of 0.19. TXO Partners has a fifty-two week low of $15.22 and a fifty-two week high of $23.56. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a fifty day simple moving average of $19.14 and a 200-day simple moving average of $17.91.

TXO Partners (NYSE:TXO) last issued its quarterly earnings data on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.13). The company had revenue of $83.68 million for the quarter, compared to analyst estimates of $83.68 million. TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. On average, sell-side analysts anticipate that TXO Partners will post 1.02 EPS for the current fiscal year.

Insider Activity

In other TXO Partners news, Director Keith A. Hutton bought 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were bought at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now directly owns 4,100,215 shares in the company, valued at approximately $65,767,448.60. This trade represents a 1.49 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Scott T. Agosta sold 5,775 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $18.59, for a total transaction of $107,357.25. Following the sale, the chief accounting officer now directly owns 159,498 shares of the company’s stock, valued at $2,965,067.82. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders acquired 75,500 shares of company stock worth $1,223,690 over the last ninety days.

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.