Bank of America Corp DE Grows Position in TXO Partners LP $TXO

Bank of America Corp DE grew its position in TXO Partners LP (NYSE:TXO - Free Report) by 259.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,780 shares of the company's stock after acquiring an additional 270,465 shares during the quarter. Bank of America Corp DE owned 0.68% of TXO Partners worth $4,715,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its holdings in shares of TXO Partners by 100.2% in the fourth quarter. Royal Bank of Canada now owns 2,603 shares of the company's stock valued at $28,000 after purchasing an additional 1,303 shares in the last quarter. State of Wyoming purchased a new stake in TXO Partners during the second quarter valued at $45,000. Kestra Advisory Services LLC purchased a new stake in TXO Partners during the fourth quarter valued at $49,000. Fund Advisors of America Inc FL bought a new position in TXO Partners during the fourth quarter valued at $115,000. Finally, Corient Private Wealth LLC bought a new position in TXO Partners during the second quarter valued at $150,000. 27.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at TXO Partners

In other news, Director Bob R. Simpson acquired 369,153 shares of TXO Partners stock in a transaction dated Wednesday, June 3rd. The stock was purchased at an average cost of $13.91 per share, for a total transaction of $5,134,918.23. Following the completion of the purchase, the director directly owned 9,000,000 shares in the company, valued at $125,190,000. This trade represents a 4.28% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders bought 1,100,000 shares of company stock valued at $15,129,522 over the last quarter.

TXO Partners Price Performance

TXO opened at $14.51 on Friday. TXO Partners LP has a 12-month low of $10.12 and a 12-month high of $14.89. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $804.58 million, a price-to-earnings ratio of -18.84 and a beta of 0.04. The business's fifty day simple moving average is $13.28 and its 200-day simple moving average is $12.90.

TXO Partners (NYSE:TXO - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.96. TXO Partners had a negative return on equity of 5.59% and a negative net margin of 9.23%.The company had revenue of $150.87 million during the quarter, compared to analyst estimates of $116.24 million. On average, equities research analysts anticipate that TXO Partners LP will post 0.58 earnings per share for the current fiscal year.

TXO Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 14th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 11.0%. The ex-dividend date was Friday, August 14th. This is a boost from TXO Partners's previous quarterly dividend of $0.36. TXO Partners's dividend payout ratio (DPR) is presently -207.79%.

Wall Street Analyst Weigh In

TXO has been the topic of several recent research reports. Weiss Ratings upgraded shares of TXO Partners from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 21st. Zacks Research upgraded TXO Partners from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen raised TXO Partners from a "sell" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.50.

TXO Partners Company Profile

TXO Partners is an independent upstream oil and natural gas company focused on the acquisition, development and production of unconventional resource plays in the United States. The firm holds working interests in producing and non-producing acreage, primarily targeting liquids-rich areas to optimize cash flow generation and capital efficiency. Its core business involves identifying under-developed assets, engineering cost-effective drilling programs and applying advanced completion techniques to enhance well performance.

The company’s operations are concentrated in key domestic basins, where horizontal drilling and multi-stage fracturing have unlocked significant reserves.

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