TXO Partners, L.P. (TXO) To Go Ex-Dividend on May 17th

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 paid 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 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% meaning 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 $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 Up 4.5 %

TXO traded up $0.85 on Thursday, hitting $19.87. 45,578 shares of the company were exchanged, compared to its average volume of 42,467. The firm has a 50-day moving average price of $18.32 and a two-hundred day moving average price of $18.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06. TXO Partners has a twelve month low of $17.20 and a twelve month high of $23.57. The company has a market cap of $611.00 million, a price-to-earnings ratio of -3.31 and a beta of -0.18.

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

Insider Activity

In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $18.39, for a total transaction of $951,719.28. Following the transaction, the insider now directly owns 1,120,778 shares in the company, valued at $20,611,107.42. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders have sold 117,878 shares of company stock valued at $2,149,284.

Analyst Ratings Changes

Several analysts recently commented on TXO shares. Raymond James reduced 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 reduced their target price on shares of 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.