TXO Partners, L.P. (NYSE:TXO) Increases Dividend to $0.58 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, November 6th, Wall Street Journal reports. Shareholders of record on Friday, November 15th will be paid a dividend of 0.58 per share on Friday, November 22nd. This represents a $2.32 annualized dividend and a yield of 12.51%. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from TXO Partners’s previous quarterly dividend of $0.57.

TXO Partners has a dividend payout ratio of 139.9% 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 $1.63 per share next year, which means the company may not be able to cover its $2.28 annual dividend with an expected future payout ratio of 139.9%.

TXO Partners Trading Up 2.1 %

NYSE:TXO traded up $0.39 on Wednesday, hitting $18.54. 88,549 shares of the stock were exchanged, compared to its average volume of 67,512. The stock has a market cap of $712.12 million, a PE ratio of -3.26 and a beta of 0.11. The company has a current ratio of 3.27, a quick ratio of 3.26 and a debt-to-equity ratio of 0.01. The stock has a fifty day moving average of $19.12 and a 200-day moving average of $19.31. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56.

TXO Partners (NYSE:TXO) last issued its earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.10). TXO Partners had a positive return on equity of 9.33% and a negative net margin of 60.08%. The company had revenue of $57.31 million during the quarter, compared to analysts’ expectations of $63.77 million. As a group, equities analysts expect that TXO Partners will post 0.91 earnings per share for the current fiscal year.

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.