TXO Partners, L.P. (NYSE:TXO) Plans Dividend Increase – $0.65 Per Share

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Wednesday, May 8th, Wall Street Journal reports. Stockholders of record on Monday, May 20th will be paid a dividend of 0.65 per share on Wednesday, May 29th. This represents a $2.60 annualized dividend and a dividend yield of 13.47%. The ex-dividend date is Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a dividend payout ratio of 107.9% 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 research analysts expect TXO Partners to earn $2.15 per share next year, which means the company may not be able to cover its $2.32 annual dividend with an expected future payout ratio of 107.9%.

TXO Partners Stock Performance

Shares of NYSE TXO traded up $1.49 during trading on Wednesday, reaching $19.30. 122,870 shares of the stock traded hands, compared to its average volume of 42,168. TXO Partners has a 52-week low of $17.20 and a 52-week high of $23.57. The company has a 50-day moving average of $18.29 and a 200-day moving average of $18.15. The stock has a market capitalization of $593.48 million, a P/E ratio of -5.81 and a beta of -0.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41.

TXO Partners (NYSE:TXO) last posted its earnings results on Tuesday, March 5th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.72. The firm had revenue of $91.97 million for the quarter, compared to the consensus estimate of $70.76 million. TXO Partners had a positive return on equity of 6.89% and a negative net margin of 27.31%. Analysts forecast that TXO Partners will post 1.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Global Endowment Management, L sold 41,978 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.03, for a total transaction of $756,863.34. Following the transaction, the insider now directly owns 1,089,868 shares of the company’s stock, valued at $19,650,320.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders sold 117,878 shares of company stock valued at $2,149,284.

Analyst Upgrades and Downgrades

TXO has been the topic of several analyst reports. Stifel Nicolaus decreased their price target on TXO Partners from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Raymond James reduced their target price on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a report on Wednesday, January 24th.

TXO Partners Company Profile

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.