TXO Partners, L.P. (NYSE:TXO) Declares Quarterly Dividend of $0.61

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 annualized dividend and a yield of 12.49%. The ex-dividend date of this dividend is Friday, March 14th. This is a 5.2% increase from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a payout ratio of 152.5% 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 $1.91 per share next year, which means the company may not be able to cover its $2.44 annual dividend with an expected future payout ratio of 127.7%.

TXO Partners Stock Performance

NYSE:TXO traded down $0.06 during trading hours on Wednesday, reaching $19.53. 4,794 shares of the stock were exchanged, compared to its average volume of 127,394. The stock has a market capitalization of $804.01 million, a P/E ratio of -3.29 and a beta of 0.13. The firm has a 50 day simple moving average of $19.16 and a 200-day simple moving average of $17.91. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners has a 52 week low of $15.22 and a 52 week high of $23.56.

TXO Partners (NYSE:TXO) last released its quarterly earnings data on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.13). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The business had revenue of $83.68 million during the quarter, compared to analyst estimates of $83.68 million. As a group, sell-side analysts forecast that TXO Partners will post 1.02 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brent W. Clum sold 7,702 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $143,180.18. Following the sale, the chief financial officer now directly owns 470,337 shares in the company, valued at $8,743,564.83. This trade represents a 1.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott T. Agosta sold 5,775 shares of the business’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $107,357.25. Following the transaction, the chief accounting officer now owns 159,498 shares of the company’s stock, valued at $2,965,067.82. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 75,500 shares of company stock worth $1,223,690 in the last three months.

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.