TXO Partners, L.P. (NYSE:TXO) Increases Dividend to $0.58 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, November 5th,Wall Street Journal reports. Investors of record on Friday, November 15th will be given a dividend of 0.58 per share on Friday, November 22nd. This represents a $2.32 dividend on an annualized basis and a yield of 12.11%. The ex-dividend date is Friday, November 15th. This is an increase from TXO Partners’s previous quarterly dividend of $0.57.

TXO Partners has a dividend payout ratio of 142.3% 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 analysts expect TXO Partners to earn $1.59 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 145.9%.

TXO Partners Stock Performance

TXO traded up $0.02 during trading hours on Thursday, reaching $19.15. The company’s stock had a trading volume of 11,622 shares, compared to its average volume of 67,387. TXO Partners has a 52 week low of $17.20 and a 52 week high of $23.56. The company’s 50-day moving average is $18.96 and its 200-day moving average is $19.21. 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 $783.48 million, a PE ratio of -3.24 and a beta of 0.11.

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.