TXO Partners, L.P. (NYSE:TXO) Increases Dividend to $0.65 Per Share

TXO Partners, L.P. (NYSE:TXOGet Free Report) announced a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be given a dividend of 0.65 per share on Wednesday, May 29th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 11.89%. The ex-dividend date is Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 126.2% indicating that 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 $2.06 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 126.2%.

TXO Partners Trading Up 6.0 %

TXO stock opened at $21.86 on Thursday. The company has a market cap of $676.35 million, a price-to-earnings ratio of -3.74 and a beta of -0.18. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.06. The business has a fifty day simple moving average of $18.83 and a 200-day simple moving average of $18.32. TXO Partners has a 52 week low of $17.20 and a 52 week high of $23.57.

TXO Partners (NYSE:TXOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.09. The firm had revenue of $67.44 million during the quarter, compared to analysts’ expectations of $65.24 million. TXO Partners had a negative net margin of 61.27% and a positive return on equity of 7.94%. On average, equities research analysts expect that TXO Partners will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Stifel Nicolaus decreased their price objective on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, January 23rd. Raymond James reduced their price target on shares of TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, January 24th.

Check Out Our Latest Analysis on TXO

Insider Transactions at TXO Partners

In other news, major shareholder Global Endowment Management, L sold 51,752 shares of the 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 owns 1,120,778 shares of the company’s stock, valued at $20,611,107.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders have sold 117,878 shares of company stock valued at $2,149,284.

About TXO Partners

(Get Free Report)

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.

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Dividend History for TXO Partners (NYSE:TXO)

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