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

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, March 5th, Wall Street Journal reports. Investors of record on Friday, March 14th will be paid a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 annualized dividend and a 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 research 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 Trading Up 2.1 %

TXO Partners stock traded up $0.40 during mid-day trading on Wednesday, hitting $19.03. 95,064 shares of the stock were exchanged, compared to its average volume of 133,499. The stock has a market capitalization of $778.57 million, a price-to-earnings ratio of -3.20 and a beta of 0.19. TXO Partners has a 12 month low of $15.22 and a 12 month high of $23.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm’s fifty day simple moving average is $19.14 and its two-hundred day simple moving average is $17.91.

TXO Partners (NYSE:TXO) last released its earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.13). The firm 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%. Analysts forecast that TXO Partners will post 1.02 EPS for the current year.

Insider Activity at TXO Partners

In other TXO Partners news, Director Keith A. Hutton purchased 60,000 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were purchased at an average cost of $16.04 per share, for a total transaction of $962,400.00. Following the acquisition, the director now owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. This represents a 1.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Adams III acquired 14,000 shares of the stock in a transaction dated Monday, December 30th. The stock was bought at an average price of $16.93 per share, with a total value of $237,020.00. Following the purchase, the director now directly owns 92,784 shares in the company, valued at $1,570,833.12. This represents a 17.77 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired a total of 75,500 shares of company stock worth $1,223,690 in the last 90 days.

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.