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

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Stockholders of record on Friday, November 15th will be paid a dividend of 0.58 per share on Friday, November 22nd. This represents a $2.32 annualized dividend and a dividend yield of 12.51%. The ex-dividend date 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 Trading Up 2.1 %

Shares of TXO traded up $0.39 during midday trading on Wednesday, hitting $18.54. The stock had a trading volume of 88,549 shares, compared to its average volume of 67,512. TXO Partners has a 1 year low of $17.20 and a 1 year high of $23.56. The stock’s 50 day moving average is $19.12 and its 200 day moving average is $19.31. The firm has a market cap 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 current ratio of 3.27 and a quick ratio of 3.26.

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

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.