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

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, August 6th, Wall Street Journal reports. Shareholders 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 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% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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

Shares of NYSE:TXO opened at $20.37 on Monday. The business’s fifty day moving average is $20.39. The firm has a market capitalization of $630.21 million, a P/E ratio of -3.48 and a beta of 0.05. The company has a quick ratio of 3.26, a current ratio of 3.27 and a debt-to-equity ratio of 0.01. TXO Partners has a 52-week low of $17.20 and a 52-week high of $23.56.

TXO Partners (NYSE:TXO) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). The company had revenue of $57.31 million for the quarter, compared to analyst estimates of $63.77 million. TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. On average, equities analysts forecast that TXO Partners will post 1.48 EPS for the current fiscal year.

Insider Transactions at TXO Partners

In other news, Director Luther King, Jr. sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $22.20, for a total transaction of $222,000.00. Following the completion of the transaction, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Luther King, Jr. sold 10,000 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $22.20, for a total value of $222,000.00. Following the completion of the sale, the director now directly owns 2,581,530 shares in the company, valued at $57,309,966. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Bob R. Simpson acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was bought at an average price of $20.00 per share, with a total value of $2,000,000.00. Following the completion of the acquisition, the chief executive officer now directly 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.