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

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Stockholders of record on Tuesday, August 20th will be given a dividend of 0.57 per share on Tuesday, August 27th. This represents a $2.28 annualized dividend and a dividend yield of 11.37%. The ex-dividend date of this dividend is Tuesday, August 20th.

TXO Partners has a dividend payout ratio of 104.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research 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 Trading Up 2.9 %

NYSE:TXO traded up $0.56 during mid-day trading on Wednesday, hitting $20.06. 90,444 shares of the company’s stock were exchanged, compared to its average volume of 67,570. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $620.62 million, a P/E ratio of -3.43 and a beta of 0.05. The company has a 50 day simple moving average of $20.59 and a 200-day simple moving average of $20.62.

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

Insiders Place Their Bets

In related news, insider Keith A. Hutton bought 878,000 shares of TXO Partners stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average cost 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 of the company’s stock, valued at approximately $80,004,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other TXO Partners news, CEO Bob R. Simpson acquired 100,000 shares of the stock in a transaction dated Friday, June 28th. The stock was purchased at an average cost of $20.00 per share, with a total value of $2,000,000.00. Following the transaction, the chief executive officer now owns 4,500,000 shares in the company, valued at approximately $90,000,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith A. Hutton bought 878,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $17,560,000.00. Following the transaction, the insider now owns 4,000,215 shares in the company, valued at $80,004,300. The disclosure for this purchase 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.