TXO Partners, L.P. (NYSE:TXO) Declares $0.57 Quarterly Dividend

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Tuesday, August 20th will be given a dividend of 0.57 per share on Tuesday, August 27th. This represents a $2.28 annualized dividend and a yield of 11.37%. The ex-dividend date is Tuesday, August 20th.

TXO Partners has a dividend payout ratio of 104.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect TXO Partners to earn $2.48 per share next year, which means the company may not be able to cover its $2.60 annual dividend with an expected future payout ratio of 104.8%.

TXO Partners Price Performance

TXO traded up $0.56 during midday trading on Wednesday, reaching $20.06. 90,444 shares of the company’s stock were exchanged, compared to its average volume of 67,570. The business’s 50-day moving average price is $20.59 and its 200 day moving average price is $20.62. The stock has a market capitalization of $620.62 million, a PE ratio of -3.43 and a beta of 0.05. TXO Partners has a 1-year low of $17.20 and a 1-year high of $23.56. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.36 and a quick ratio of 1.36.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, May 7th. The company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.09. The firm had revenue of $67.44 million for the quarter, compared to analysts’ expectations of $65.24 million. TXO Partners had a positive return on equity of 7.94% and a negative net margin of 61.27%. As a group, equities analysts anticipate that TXO Partners will post 1.55 EPS for the current fiscal year.

Insider Transactions at TXO Partners

In other news, CEO Bob R. Simpson acquired 100,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was acquired at an average cost of $20.00 per share, for a total transaction of $2,000,000.00. Following the acquisition, the chief executive officer now directly owns 4,500,000 shares in the company, valued at approximately $90,000,000. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other TXO Partners news, CEO Bob R. Simpson bought 100,000 shares of TXO Partners stock in a transaction that occurred on Friday, June 28th. The shares were acquired at an average price of $20.00 per share, for a total transaction of $2,000,000.00. Following the acquisition, the chief executive officer now owns 4,500,000 shares of the company’s stock, valued at approximately $90,000,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith A. Hutton purchased 878,000 shares of the stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $20.00 per share, with a total value of $17,560,000.00. Following the completion of the acquisition, the insider now owns 4,000,215 shares in the company, valued at approximately $80,004,300. The disclosure for this purchase can be found here.

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.