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

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be given 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. Research 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 Stock Performance

Shares of TXO stock traded up $0.40 during trading hours on Wednesday, reaching $19.03. The stock had a trading volume of 95,064 shares, compared to its average volume of 133,499. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $17.91. The firm has a market capitalization of $778.57 million, a PE ratio of -3.20 and a beta of 0.19. TXO Partners has a twelve month low of $15.22 and a twelve month high of $23.56.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.13). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The business had revenue of $83.68 million for the quarter, compared to the consensus estimate of $83.68 million. As a group, equities analysts forecast that TXO Partners will post 1.02 earnings per share for the current year.

Insider Transactions at TXO Partners

In related news, CAO Scott T. Agosta sold 5,775 shares of the business’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 owns 159,498 shares of the company’s stock, valued at $2,965,067.82. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brent W. Clum sold 7,702 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $18.59, for a total value of $143,180.18. Following the transaction, the chief financial officer now directly owns 470,337 shares of the company’s stock, valued at $8,743,564.83. This represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 75,500 shares of company stock valued at $1,223,690.

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.