TXO Partners, L.P. (NYSE:TXO) Raises Dividend to $0.61 Per Share

TXO Partners, L.P. (NYSE:TXO - Get Free Report) declared 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 annualized dividend and a yield of 12.57%. 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 Stock Performance

TXO stock traded up $0.28 during mid-day trading on Friday, hitting $19.41. The company had a trading volume of 95,277 shares, compared to its average volume of 132,145. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market cap of $798.91 million, a PE ratio of -3.27 and a beta of 0.13. TXO Partners has a 12 month low of $15.22 and a 12 month high of $23.56. The stock's fifty day moving average price is $19.15 and its two-hundred day moving average price is $17.90.

TXO Partners (NYSE:TXO - Get Free Report) last posted its quarterly earnings results on Tuesday, March 4th. The company reported $0.26 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.13). TXO Partners had a positive return on equity of 8.05% and a negative net margin of 63.22%. The company had revenue of $83.68 million during the quarter, compared to the consensus estimate of $83.68 million. On average, analysts forecast that TXO Partners will post 1.02 earnings per share for the current fiscal year.

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Insider Buying and Selling at TXO Partners

In other TXO Partners news, Director Keith A. Hutton bought 60,000 shares of TXO Partners stock in a transaction dated Wednesday, December 18th. The stock was purchased at an average price of $16.04 per share, for a total transaction of $962,400.00. Following the completion of the purchase, the director now directly owns 4,100,215 shares of the company's stock, valued at approximately $65,767,448.60. This trade represents a 1.49 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brent W. Clum sold 7,702 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $18.59, for a total transaction of $143,180.18. Following the completion of the sale, the chief financial officer now directly owns 470,337 shares in the company, valued at approximately $8,743,564.83. This trade represents a 1.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have bought a total of 75,500 shares of company stock worth $1,223,690 over the last ninety days.

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.