TXO Partners, L.P. (NYSE:TXO) Declares Dividend Increase – $0.61 Per Share

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 dividend on an annualized basis and a dividend yield of 12.82%. The ex-dividend date 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 145.0% 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 $1.91 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 121.5%.

TXO Partners Stock Performance

Shares of TXO traded up $0.40 during midday trading on Wednesday, reaching $19.03. The stock had a trading volume of 95,064 shares, compared to its average volume of 133,499. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm has a 50 day simple moving average of $19.14 and a 200-day simple moving average of $17.91. The firm has a market cap of $778.57 million, a PE ratio of -3.20 and a beta of 0.19. TXO Partners has a one year low of $15.22 and a one year high of $23.56.

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

Insider Buying and Selling at TXO Partners

In related news, CAO Scott T. Agosta sold 5,775 shares of the firm’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 in the company, valued at approximately $2,965,067.82. This trade represents a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith A. Hutton acquired 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, with a total value of $962,400.00. Following the transaction, the director now directly owns 4,100,215 shares of the company’s stock, valued at $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 75,500 shares of company stock valued at $1,223,690 in the last quarter.

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.