TXO Partners, L.P. (NYSE:TXO) Raises Dividend to $0.61 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 annualized dividend and a dividend yield of 12.82%. The ex-dividend date of this dividend 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. 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 Price Performance

Shares of TXO stock opened at $19.03 on Thursday. The stock’s fifty day moving average is $19.14 and its 200-day moving average is $17.91. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market capitalization of $778.57 million, a PE ratio of -3.20 and a beta of 0.19. TXO Partners has a 52 week low of $15.22 and a 52 week high of $23.56.

TXO Partners (NYSE:TXO) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm had revenue of $83.68 million during the quarter, compared to the consensus estimate of $83.68 million. TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. Equities research analysts expect that TXO Partners will post 1.02 EPS for the current fiscal year.

Insider Activity at TXO Partners

In related news, Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the completion of the acquisition, the director now owns 4,100,215 shares in the company, valued at approximately $65,767,448.60. This represents a 1.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Scott T. Agosta sold 5,775 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $107,357.25. Following the transaction, the chief accounting officer now owns 159,498 shares in the company, valued at approximately $2,965,067.82. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 75,500 shares of company stock worth $1,223,690 over the last 90 days.

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.