TXO Partners LP Announces Quarterly Dividend of $0.45 (NYSE:TXO)

Key Points

• TXO Partners LP announced a quarterly dividend of $0.45 per share, with the payment date set for August 22nd for investors on record as of August 15th, representing an annualized yield of 12.0%.
• The company's dividend payout ratio stands at 212.2%, indicating difficulties in covering dividends with earnings, and analysts predict a future payout ratio of 127.7% based on expected earnings.
• TXO Partners' stock saw a slight increase of 0.3% during trading, reaching $15.05, with a market capitalization of $622.54 million and a PE ratio of 35.83.

TXO Partners LP (NYSE:TXO - Get Free Report) announced a quarterly dividend on Wednesday, August 6th, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.45 per share on Friday, August 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 12.2%. The ex-dividend date of this dividend is Friday, August 15th.

TXO Partners has a dividend payout ratio of 212.2% 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 $1.91 per share next year, which means the company may not be able to cover its $2.44 annual dividend with an expected future payout ratio of 127.7%.

TXO Partners Stock Down 1.5%

Shares of TXO Partners stock traded down $0.23 on Friday, reaching $14.73. 126,874 shares of the company were exchanged, compared to its average volume of 190,952. TXO Partners has a one year low of $14.62 and a one year high of $20.93. The company has a market capitalization of $609.38 million, a price-to-earnings ratio of 44.64 and a beta of 0.09. The company has a current ratio of 0.97, a quick ratio of 1.00 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $15.18 and a 200 day moving average of $17.01.

Insider Activity

In other news, Director Keith A. Hutton acquired 700,000 shares of the stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $10,500,000.00. Following the transaction, the director directly owned 4,820,215 shares of the company's stock, valued at approximately $72,303,225. This represents a 16.99% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Phillip R. Kevil acquired 3,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were purchased at an average price of $15.18 per share, for a total transaction of $45,540.00. Following the transaction, the director directly owned 27,384 shares in the company, valued at approximately $415,689.12. This trade represents a 12.30% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 3,473,000 shares of company stock worth $52,095,540.

Institutional Trading of TXO Partners

Large investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of TXO Partners during the 1st quarter worth $216,000. Jane Street Group LLC acquired a new stake in shares of TXO Partners during the 4th quarter worth $461,000. Raymond James Financial Inc. acquired a new stake in shares of TXO Partners during the 4th quarter worth $4,609,000. Wealthedge Investment Advisors LLC acquired a new stake in shares of TXO Partners during the 4th quarter worth $1,169,000. Finally, XTX Topco Ltd acquired a new stake in shares of TXO Partners during the 4th quarter worth $270,000. 27.44% of the stock is owned by institutional investors and hedge funds.

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.