TXO Partners, L.P. (NYSE:TXO) Raises Dividend to $0.65 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders 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 of this dividend is Friday, May 17th. This is an increase from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend 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 Stock Performance

Shares of TXO opened at $19.02 on Thursday. The firm’s fifty day simple moving average is $18.32 and its two-hundred day simple moving average is $18.16. TXO Partners has a 12 month low of $17.20 and a 12 month high of $23.57. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $584.87 million, a P/E ratio of -5.73 and a beta of -0.18.

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

Analyst Ratings Changes

Several analysts have recently commented on TXO shares. Raymond James lowered their target price on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a report on Wednesday, January 24th. Stifel Nicolaus dropped their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd.

Insider Buying and Selling at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 24,148 shares of the company’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the transaction, the insider now owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders sold 117,878 shares of company stock valued at $2,149,284.

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.