Mach Natural Resources LP (NYSE:MNR) Shares Sold by Bank of America Corp DE

Bank of America Corp DE decreased its holdings in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 33.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 579,532 shares of the company's stock after selling 292,592 shares during the period. Bank of America Corp DE owned approximately 0.56% of Mach Natural Resources worth $9,956,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC lifted its holdings in Mach Natural Resources by 33.3% in the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company's stock valued at $206,000 after acquiring an additional 3,000 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Mach Natural Resources by 7.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company's stock valued at $4,145,000 after purchasing an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Mach Natural Resources by 1,618.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock valued at $3,354,000 after purchasing an additional 183,870 shares in the last quarter. ING Groep NV acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at about $412,000. Finally, Parkside Financial Bank & Trust purchased a new stake in Mach Natural Resources during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 78.36% of the company's stock.

Mach Natural Resources Trading Down 0.2%

Shares of NYSE:MNR traded down $0.03 during midday trading on Tuesday, hitting $13.48. 249,736 shares of the stock were exchanged, compared to its average volume of 227,029. Mach Natural Resources LP has a twelve month low of $12.40 and a twelve month high of $20.94. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. The firm has a 50 day simple moving average of $14.03. The company has a market capitalization of $1.60 billion, a PE ratio of 8.43 and a beta of -0.28.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.01). Mach Natural Resources had a return on equity of 23.58% and a net margin of 25.17%. The business had revenue of $227.00 million for the quarter, compared to analyst estimates of $259.09 million. On average, equities research analysts expect that Mach Natural Resources LP will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd will be issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 23.44%. This is a boost from Mach Natural Resources's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Thursday, May 22nd. Mach Natural Resources's payout ratio is 197.50%.

Wall Street Analysts Forecast Growth

MNR has been the topic of several recent analyst reports. Stifel Nicolaus upped their target price on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Raymond James restated a "strong-buy" rating and issued a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th.

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.