Invesco Ltd. Sells 28,186 Shares of Mach Natural Resources LP $MNR

Key Points

• Invesco Ltd. reduced its holdings in Mach Natural Resources LP by 15.7%, owning approximately 151,033 shares worth $2.35 million as of the latest SEC filing.
• Mach Natural Resources reported earnings per share (EPS) of $0.76, surpassing estimates of $0.53, alongside a revenue of $288.52 million for the most recent quarter.
• The company announced a quarterly dividend of $0.38, yielding 10.7%, with a payout ratio of 78.35% and the ex-dividend date set for August 21st.

Invesco Ltd. lowered its position in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 15.7% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151,033 shares of the company's stock after selling 28,186 shares during the quarter. Invesco Ltd. owned about 0.13% of Mach Natural Resources worth $2,349,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Strategic Financial Concepts LLC increased its position in Mach Natural Resources by 8.3% during the first quarter. Strategic Financial Concepts LLC now owns 12,312 shares of the company's stock worth $191,000 after acquiring an additional 948 shares during the period. Parallel Advisors LLC grew its position in shares of Mach Natural Resources by 100.0% during the 1st quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock worth $31,000 after purchasing an additional 1,000 shares in the last quarter. Novem Group increased its holdings in shares of Mach Natural Resources by 14.3% during the first quarter. Novem Group now owns 16,000 shares of the company's stock worth $249,000 after purchasing an additional 2,000 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Mach Natural Resources in the first quarter valued at approximately $177,000. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Mach Natural Resources in the first quarter valued at approximately $191,000. Institutional investors own 78.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. William Blair started coverage on Mach Natural Resources in a research note on Monday, August 25th. They set an "outperform" rating on the stock. Wall Street Zen cut Mach Natural Resources from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mach Natural Resources in a research report on Monday, July 14th. Finally, KeyCorp began coverage on shares of Mach Natural Resources in a research note on Wednesday, August 27th. They set an "overweight" rating on the stock. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $23.00.

Insider Buying and Selling

In other news, Director William Wallace Mcmullen purchased 144,900 shares of the business's stock in a transaction dated Monday, June 16th. The shares were purchased at an average cost of $14.96 per share, with a total value of $2,167,704.00. Following the completion of the purchase, the director owned 74,812,939 shares of the company's stock, valued at $1,119,201,567.44. This trade represents a 0.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought 528,614 shares of company stock valued at $7,633,031 in the last ninety days. 87.80% of the stock is currently owned by company insiders.

Mach Natural Resources Price Performance

MNR stock traded down $0.14 during trading on Wednesday, reaching $14.05. 122,734 shares of the company were exchanged, compared to its average volume of 319,643. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 7.24 and a beta of -0.07. 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 50-day moving average of $14.57 and a two-hundred day moving average of $14.38. Mach Natural Resources LP has a twelve month low of $12.40 and a twelve month high of $19.03.

Mach Natural Resources (NYSE:MNR - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.76 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.23. The firm had revenue of $288.52 million for the quarter, compared to analysts' expectations of $237.56 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. As a group, equities analysts predict that Mach Natural Resources LP will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 21st will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Thursday, August 21st. Mach Natural Resources's dividend payout ratio is presently 78.35%.

About Mach Natural Resources

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.