TXO Partners, L.P. (NYSE:TXO) Plans Quarterly Dividend of $0.57

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Investors of record on Tuesday, August 20th will be paid a dividend of 0.57 per share on Tuesday, August 27th. This represents a $2.28 annualized dividend and a yield of 11.37%. The ex-dividend date is Tuesday, August 20th.

TXO Partners has a payout ratio of 104.8% indicating that 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 $2.48 per share next year, which means the company may not be able to cover its $2.60 annual dividend with an expected future payout ratio of 104.8%.

TXO Partners Stock Performance

Shares of NYSE:TXO traded up $0.56 during trading hours on Wednesday, hitting $20.06. The stock had a trading volume of 90,444 shares, compared to its average volume of 67,570. The stock’s fifty day simple moving average is $20.59 and its 200 day simple moving average is $20.62. The firm has a market capitalization of $620.62 million, a price-to-earnings ratio of -3.43 and a beta of 0.05. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.36 and a current ratio of 1.36. TXO Partners has a 1-year low of $17.20 and a 1-year high of $23.56.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.09. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. The firm had revenue of $67.44 million for the quarter, compared to the consensus estimate of $65.24 million. Sell-side analysts anticipate that TXO Partners will post 1.55 earnings per share for the current fiscal year.

Insider Activity at TXO Partners

In other news, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $21.24, for a total value of $212,400.00. Following the completion of the sale, the director now directly owns 2,561,530 shares of the company’s stock, valued at approximately $54,406,897.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Keith A. Hutton acquired 878,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average price of $20.00 per share, for a total transaction of $17,560,000.00. Following the completion of the acquisition, the insider now directly owns 4,000,215 shares in the company, valued at approximately $80,004,300. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Luther King, Jr. sold 10,000 shares of TXO Partners stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $21.24, for a total value of $212,400.00. Following the transaction, the director now directly owns 2,561,530 shares in the company, valued at $54,406,897.20. The disclosure for this sale can be found here.

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.