TXO Partners, L.P. (NYSE:TXO) to Issue Dividend Increase – $0.58 Per Share

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Shareholders of record on Friday, November 15th will be given a dividend of 0.58 per share on Friday, November 22nd. This represents a $2.32 dividend on an annualized basis and a yield of 12.51%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57.

TXO Partners has a dividend payout ratio of 139.9% 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 $1.63 per share next year, which means the company may not be able to cover its $2.28 annual dividend with an expected future payout ratio of 139.9%.

TXO Partners Price Performance

TXO traded up $0.39 during midday trading on Wednesday, hitting $18.54. The company had a trading volume of 88,549 shares, compared to its average volume of 67,512. TXO Partners has a twelve month low of $17.20 and a twelve month high of $23.56. The firm’s 50-day simple moving average is $19.12 and its 200-day simple moving average is $19.31. The company has a market capitalization of $712.12 million, a PE ratio of -3.26 and a beta of 0.11. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.27.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). The firm had revenue of $57.31 million for the quarter, compared to analyst estimates of $63.77 million. TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. Equities research analysts predict that TXO Partners will post 0.91 EPS for the current fiscal year.

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.