TXO Partners, L.P. (NYSE:TXO) to Issue Quarterly Dividend of $0.65

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.65 per share on Wednesday, May 29th. This represents a $2.60 annualized dividend and a yield of 13.47%. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 107.9% indicating that 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 $2.15 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 107.9%.

TXO Partners Stock Performance

Shares of TXO Partners stock traded up $1.49 during trading on Wednesday, reaching $19.30. The company’s stock had a trading volume of 122,870 shares, compared to its average volume of 42,168. The firm has a market cap of $593.48 million, a PE ratio of -5.75 and a beta of -0.18. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.06. The business’s 50-day moving average price is $18.29 and its 200-day moving average price is $18.15. TXO Partners has a 52 week low of $17.20 and a 52 week high of $23.57.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.72. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. The firm had revenue of $91.97 million during the quarter, compared to analyst estimates of $70.76 million. Equities analysts forecast that TXO Partners will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Raymond James cut their target price on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th. Stifel Nicolaus dropped their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd.

Insider Buying and Selling

In other news, major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the completion of the sale, the insider now directly owns 1,112,219 shares of the company’s stock, valued at approximately $20,297,996.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders have sold 117,878 shares of company stock valued at $2,149,284.

About TXO Partners

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.