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

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Wednesday, August 7th, Wall Street Journal reports. Shareholders of record on Tuesday, August 20th will be paid 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% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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

Shares of TXO traded up $0.56 during trading hours on Wednesday, hitting $20.06. 90,444 shares of the company were exchanged, compared to its average volume of 67,570. The company has a market cap of $620.62 million, a price-to-earnings ratio of -3.43 and a beta of 0.05. The firm’s fifty day moving average is $20.59 and its 200 day moving average is $20.62. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06.

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

Insider Activity at TXO Partners

In other TXO Partners news, CEO Bob R. Simpson purchased 100,000 shares of the stock in a transaction dated Friday, June 28th. The stock was bought at an average price of $20.00 per share, with a total value 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 $90,000,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Keith A. Hutton purchased 878,000 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $17,560,000.00. Following the purchase, the insider now owns 4,000,215 shares of the company’s stock, valued at $80,004,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Bob R. Simpson acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The shares were purchased 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 owns 4,500,000 shares in the company, valued at $90,000,000. 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.