33,374 Shares in Mach Natural Resources LP $MNR Purchased by Penn Capital Management Company LLC

Key Points

• Penn Capital Management Company LLC acquired 33,374 shares of Mach Natural Resources LP for approximately $519,000 in the first quarter.
• Mach Natural Resources announced a dividend of $0.38 per share, with an extremely high yield of 1,057.0%, to be paid to stockholders on September 4th.
• Mach Natural Resources reported earnings per share of $0.76 for the last quarter, exceeding consensus estimates significantly.

Penn Capital Management Company LLC acquired a new position in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,374 shares of the company's stock, valued at approximately $519,000.

Several other institutional investors and hedge funds have also bought and sold shares of MNR. Raymond James Financial Inc. bought a new stake in Mach Natural Resources during the fourth quarter worth about $5,128,000. American Century Companies Inc. raised its stake in Mach Natural Resources by 10.9% during the first quarter. American Century Companies Inc. now owns 2,478,355 shares of the company's stock worth $38,538,000 after acquiring an additional 244,020 shares in the last quarter. Pin Oak Investment Advisors Inc. acquired a new position in Mach Natural Resources during the first quarter worth about $3,349,000. Invesco Ltd. acquired a new position in Mach Natural Resources during the fourth quarter worth about $3,079,000. Finally, Stephens Inc. AR raised its stake in Mach Natural Resources by 81.5% during the first quarter. Stephens Inc. AR now owns 143,410 shares of the company's stock worth $2,230,000 after acquiring an additional 64,410 shares in the last quarter. Institutional investors own 78.36% of the company's stock.

Insider Activity

In other news, Director William Wallace Mcmullen acquired 144,900 shares of the stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $14.96 per share, with a total value of $2,167,704.00. Following the completion of the purchase, the director directly owned 74,812,939 shares of the company's stock, valued at $1,119,201,567.44. This represents a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders purchased a total of 528,614 shares of company stock valued at $7,633,031 over the last three months. Corporate insiders own 87.80% of the company's stock.

Mach Natural Resources Stock Performance

Mach Natural Resources stock opened at $13.78 on Friday. The business has a 50 day moving average of $14.70 and a 200-day moving average of $14.47. Mach Natural Resources LP has a 1 year low of $12.40 and a 1 year high of $20.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69. The company has a market capitalization of $1.63 billion, a P/E ratio of 7.10 and a beta of -0.07.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.23. Mach Natural Resources had a return on equity of 23.23% and a net margin of 20.83%.The company had revenue of $288.52 million during the quarter, compared to the consensus estimate of $237.56 million. On average, equities research analysts predict that Mach Natural Resources LP will post 1.95 earnings per share for the current year.

Mach Natural Resources Announces Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a dividend yield of 1,057.0%. Mach Natural Resources's dividend payout ratio is currently 78.35%.

Wall Street Analyst Weigh In

Several brokerages have commented on MNR. Wall Street Zen downgraded Mach Natural Resources from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Raymond James Financial reissued a "strong-buy" rating on shares of Mach Natural Resources in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Mach Natural Resources presently has an average rating of "Buy" and a consensus target price of $23.00.

Mach Natural Resources Profile

Mach Natural Resources LP, an independent upstream oil and gas company, focuses on the acquisition, development, and production of oil, natural gas, and natural gas liquids reserves in the Anadarko Basin region of Western Oklahoma, Southern Kansas, and the panhandle of Texas. It also owns a portfolio of midstream assets, as well as owns plants and water infrastructure.

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