TXO Partners, L.P. (NYSE:TXO) Announces Dividend Increase – $0.58 Per Share

TXO Partners, L.P. (NYSE:TXO) announced a quarterly dividend on Tuesday, November 5th,Wall Street Journal reports. Stockholders 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 annualized dividend and a dividend yield of 12.11%. 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 142.3% 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 $1.59 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 Price Performance

Shares of TXO traded up $0.02 during trading hours on Thursday, hitting $19.15. 11,622 shares of the company were exchanged, compared to its average volume of 67,387. The company has a market cap of $783.48 million, a price-to-earnings ratio of -3.24 and a beta of 0.11. TXO Partners has a fifty-two week low of $17.20 and a fifty-two week high of $23.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The firm’s fifty day moving average is $18.96 and its 200 day moving average is $19.21.

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.