TXO Partners, L.P. (TXO) to Issue Quarterly Dividend of $0.58 on November 22nd

TXO Partners, L.P. (NYSE:TXO) declared a quarterly dividend on Tuesday, November 5th, Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 12.51%. The ex-dividend date is Friday, November 15th. This is a positive change from TXO Partners’s previous quarterly dividend of $0.57.

TXO Partners has a 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. Equities 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 Price Performance

Shares of NYSE:TXO opened at $18.54 on Thursday. The firm has a market cap of $712.12 million, a PE ratio of -3.26 and a beta of 0.11. TXO Partners has a 52 week low of $17.20 and a 52 week high of $23.56. The firm’s fifty day moving average is $19.08 and its 200-day moving average is $19.29. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.26 and a current ratio of 3.27.

TXO Partners (NYSE:TXO) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.10). The company had revenue of $57.31 million during the quarter, compared to the consensus estimate of $63.77 million. TXO Partners had a negative net margin of 60.08% and a positive return on equity of 9.33%. Sell-side analysts predict that TXO Partners will post 0.91 earnings per share 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.