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

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Stockholders of record on Tuesday, August 20th will be given a dividend of 0.57 per share on Tuesday, August 27th. This represents a $2.28 annualized dividend and a dividend yield of 11.19%. The ex-dividend date of this dividend is Tuesday, August 20th.

TXO Partners has a dividend payout ratio of 93.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect TXO Partners to earn $2.42 per share next year, which means the company should continue to be able to cover its $2.28 annual dividend with an expected future payout ratio of 94.2%.

TXO Partners Stock Performance

NYSE TXO opened at $20.37 on Monday. The company has a 50 day simple moving average of $20.39. The company has a current ratio of 3.27, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. TXO Partners has a one year low of $17.20 and a one year high of $23.56. The stock has a market capitalization of $630.21 million, a price-to-earnings ratio of -3.48 and a beta of 0.05.

TXO Partners (NYSE:TXO) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. The business had revenue of $57.31 million during the quarter, compared to analysts’ expectations of $63.77 million. Equities analysts predict that TXO Partners will post 1.48 EPS for the current fiscal year.

Insider Activity at TXO Partners

In related news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total value of $222,000.00. Following the sale, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Luther King, Jr. sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total value of $222,000.00. Following the sale, the director now owns 2,581,530 shares of the company’s stock, valued at $57,309,966. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Bob R. Simpson bought 100,000 shares of TXO Partners stock in a transaction that occurred on Friday, June 28th. The stock was 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 of the company’s stock, valued at $90,000,000. The disclosure for this purchase can be found here.

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.