TXO Partners, L.P. (NYSE:TXO) Announces Dividend Increase – $0.65 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be paid 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 13.67%. The ex-dividend date is Friday, May 17th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 107.9% 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 $2.15 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 107.9%.

TXO Partners Price Performance

Shares of TXO Partners stock opened at $19.02 on Thursday. TXO Partners has a 1-year low of $17.20 and a 1-year high of $23.57. The stock has a market capitalization of $584.87 million, a price-to-earnings ratio of -5.73 and a beta of -0.18. The firm has a fifty day simple moving average of $18.32 and a 200-day simple moving average of $18.16. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.06.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.26 by $0.72. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. The firm had revenue of $91.97 million during the quarter, compared to analysts’ expectations of $70.76 million. On average, sell-side analysts expect that TXO Partners will post 1.34 earnings per share for the current year.

Analysts Set New Price Targets

TXO has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price on shares of TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Raymond James lowered their price objective on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, January 24th.

Insider Transactions at TXO Partners

In other TXO Partners news, major shareholder Global Endowment Management, L sold 41,978 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.03, for a total transaction of $756,863.34. Following the sale, the insider now owns 1,089,868 shares of the company’s stock, valued at approximately $19,650,320.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 117,878 shares of company stock valued at $2,149,284.

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.