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

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Investors 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 13.09%. The ex-dividend date is Friday, May 17th. This is a boost 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. Equities research 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 Price Performance

Shares of NYSE TXO traded up $0.85 during midday trading on Thursday, reaching $19.87. The company’s stock had a trading volume of 45,578 shares, compared to its average volume of 42,467. The company has a market cap of $611.00 million, a P/E ratio of -3.31 and a beta of -0.18. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.41 and a current ratio of 1.41. The business’s 50 day moving average price is $18.32 and its two-hundred day moving average price is $18.16.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $91.97 million for the quarter, compared to analysts’ expectations of $70.76 million. On average, analysts forecast that TXO Partners will post 1.34 EPS for the current fiscal year.

Insider Activity

In other TXO Partners news, major shareholder Global Endowment Management, L sold 24,148 shares of the stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $18.25, for a total transaction of $440,701.00. Following the transaction, the insider now directly owns 1,112,219 shares in the company, valued at approximately $20,297,996.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold 117,878 shares of company stock valued at $2,149,284 in the last ninety days.

Analyst Ratings Changes

Several brokerages have issued reports on TXO. Raymond James decreased their price target on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research report on Wednesday, January 24th. Stifel Nicolaus decreased their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

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.