TXO Partners LP (TXO) to Issue Quarterly Dividend of $0.35 on November 21st

TXO Partners LP (NYSE:TXO) declared a quarterly dividend on Tuesday, November 4th. Investors of record on Friday, November 14th will be paid a dividend of 0.35 per share on Friday, November 21st. This represents a c) annualized dividend and a yield of 10.2%. The ex-dividend date of this dividend is Friday, November 14th.

TXO Partners has a dividend payout ratio of 121.7% 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 analysts expect TXO Partners to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 73.3%.

TXO Partners Trading Down 1.3%

Shares of NYSE TXO traded down $0.18 during trading on Wednesday, hitting $13.67. 42,938 shares of the company traded hands, compared to its average volume of 187,311. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $748.62 million, a P/E ratio of 34.08 and a beta of 0.08. The company has a 50-day moving average price of $13.61 and a 200-day moving average price of $14.66. TXO Partners has a 1 year low of $12.61 and a 1 year high of $20.70.

Institutional Trading of TXO Partners

Several hedge funds have recently bought and sold shares of the stock. CWM LLC bought a new position in shares of TXO Partners during the 1st quarter valued at approximately $77,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of TXO Partners by 11.0% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 55,500 shares of the company’s stock worth $1,063,000 after purchasing an additional 5,500 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in TXO Partners in the first quarter worth approximately $230,000. Energy Income Partners LLC increased its stake in shares of TXO Partners by 8.7% during the first quarter. Energy Income Partners LLC now owns 783,614 shares of the company’s stock valued at $15,014,000 after buying an additional 62,874 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of TXO Partners in the 1st quarter valued at about $13,026,000. Hedge funds and other institutional investors own 27.44% of the company’s stock.

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.