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

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 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. Equities research 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

TXO traded up $0.02 during midday trading on Thursday, reaching $19.15. 11,622 shares of the company’s stock were exchanged, compared to its average volume of 67,387. 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 business has a 50-day simple moving average of $18.96 and a two-hundred day simple moving average of $19.21. The firm has a market capitalization of $783.48 million, a price-to-earnings ratio of -3.24 and a beta of 0.11. TXO Partners has a one year low of $17.20 and a one year high of $23.56.

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.