TXO Partners, L.P. (TXO) To Go Ex-Dividend on May 17th

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, May 7th, Wall Street Journal reports. Shareholders of record on Monday, May 20th will be given a dividend of 0.65 per share on Wednesday, May 29th. This represents a $2.60 annualized dividend and a yield of 13.09%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from TXO Partners’s previous quarterly dividend of $0.58.

TXO Partners has a payout ratio of 107.9% meaning 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 $0.85 during trading on Thursday, reaching $19.87. The company had a trading volume of 45,578 shares, compared to its average volume of 42,467. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.41 and a quick ratio of 1.41. The stock’s fifty day moving average price is $18.32 and its 200 day moving average price is $18.16. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.57. The firm has a market capitalization of $611.00 million, a price-to-earnings ratio of -3.31 and a beta of -0.18.

TXO Partners (NYSE:TXO) last announced its quarterly earnings data on Tuesday, March 5th. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.72. The firm had revenue of $91.97 million during the quarter, compared to the consensus estimate of $70.76 million. TXO Partners had a negative net margin of 27.31% and a positive return on equity of 6.89%. As a group, equities research analysts predict that TXO Partners will post 1.34 EPS for the current year.

Analyst Upgrades and Downgrades

TXO has been the subject of several research analyst reports. Stifel Nicolaus dropped their price objective on TXO Partners from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd. Raymond James cut their price target on TXO Partners from $30.00 to $26.00 and set a “strong-buy” rating for the company in a research note on Wednesday, January 24th.

Insiders Place Their Bets

In other TXO Partners news, major shareholder Global Endowment Management, L sold 24,148 shares of TXO Partners stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $18.25, for a total transaction of $440,701.00. Following the transaction, the insider now directly owns 1,112,219 shares of the company’s stock, valued at $20,297,996.75. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 117,878 shares of company stock worth $2,149,284 over the last three months.

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.