TXO Partners, L.P. (NYSE:TXO) Declares Quarterly Dividend of $0.58

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Wednesday, November 6th, Wall Street Journal reports. Stockholders 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 dividend 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 dividend payout ratio of 139.9% 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 $1.63 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 %

Shares of TXO stock traded up $0.39 during trading hours on Wednesday, reaching $18.54. 88,549 shares of the company’s stock were exchanged, compared to its average volume of 67,512. TXO Partners has a 1 year low of $17.20 and a 1 year high of $23.56. 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’s fifty day moving average price is $19.12 and its two-hundred day moving average price is $19.31.

TXO Partners (NYSE:TXO) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $57.31 million for the quarter, compared to analysts’ expectations of $63.77 million. Research analysts predict that TXO Partners will post 0.91 EPS for the current 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.