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

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Wednesday, November 6th, Wall Street Journal reports. Investors 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 dividend on an annualized basis and a yield of 12.51%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57.

TXO Partners has a 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. Equities 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 Stock Up 2.1 %

TXO traded up $0.39 on Wednesday, reaching $18.54. The company’s stock had a trading volume of 88,549 shares, compared to its average volume of 67,512. The stock has a market cap of $712.12 million, a price-to-earnings ratio of -3.26 and a beta of 0.11. TXO Partners has a 1 year low of $17.20 and a 1 year high of $23.56. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.27 and a quick ratio of 3.26. The business’s 50 day moving average is $19.12 and its 200 day moving average is $19.31.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts forecast that TXO Partners will post 0.91 EPS 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.