TXO Partners, L.P. (NYSE:TXO) Announces Quarterly Dividend of $0.65

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Investors of record on Monday, May 20th will be given a dividend of 0.65 per share on Wednesday, May 29th. This represents a $2.60 annualized dividend and a dividend yield of 13.67%. The ex-dividend date is Friday, May 17th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a payout ratio of 107.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TXO Partners to earn $2.15 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 107.9%.

TXO Partners Price Performance

Shares of TXO opened at $19.02 on Thursday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The company has a market cap of $584.87 million, a price-to-earnings ratio of -5.73 and a beta of -0.18. TXO Partners has a twelve month low of $17.20 and a twelve month high of $23.57. The company has a 50 day moving average of $18.32 and a two-hundred day moving average of $18.16.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. As a group, analysts predict that TXO Partners will post 1.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TXO has been the subject of a number of research reports. Stifel Nicolaus lowered their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Raymond James decreased their target price on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th.

Insider Buying and Selling

In other TXO Partners news, major shareholder Global Endowment Management, L sold 41,978 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $18.03, for a total value of $756,863.34. Following the sale, the insider now directly owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 117,878 shares of company stock valued at $2,149,284 over the last 90 days.

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.