TXO Partners, L.P. (TXO) To Go Ex-Dividend on March 14th

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, March 4th, Wall Street Journal reports. Investors of record on Friday, March 14th will be given a dividend of 0.61 per share on Friday, March 21st. This represents a $2.44 dividend on an annualized basis and a yield of 12.49%. The ex-dividend date of this dividend is Friday, March 14th. This is a 5.2% increase from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 152.5% meaning 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 $1.91 per share next year, which means the company may not be able to cover its $2.44 annual dividend with an expected future payout ratio of 127.7%.

TXO Partners Price Performance

Shares of NYSE TXO traded down $0.06 during trading on Wednesday, reaching $19.53. The company had a trading volume of 4,794 shares, compared to its average volume of 127,394. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. TXO Partners has a twelve month low of $15.22 and a twelve month high of $23.56. The stock has a 50-day moving average price of $19.16 and a two-hundred day moving average price of $17.91. The stock has a market capitalization of $804.01 million, a PE ratio of -3.29 and a beta of 0.13.

TXO Partners (NYSE:TXO) last announced its earnings results on Tuesday, March 4th. The company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.13). TXO Partners had a negative net margin of 63.22% and a positive return on equity of 8.05%. The firm had revenue of $83.68 million during the quarter, compared to analyst estimates of $83.68 million. As a group, sell-side analysts predict that TXO Partners will post 1.02 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Keith A. Hutton bought 60,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were acquired at an average cost of $16.04 per share, with a total value of $962,400.00. Following the completion of the transaction, the director now owns 4,100,215 shares of the company’s stock, valued at approximately $65,767,448.60. The trade was a 1.49 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Brent W. Clum sold 7,702 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $18.59, for a total value of $143,180.18. Following the completion of the transaction, the chief financial officer now owns 470,337 shares in the company, valued at approximately $8,743,564.83. This trade represents a 1.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders bought 75,500 shares of company stock valued at $1,223,690.

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.