American Century Companies Inc. Raises Stock Position in Mach Natural Resources LP $MNR

Key Points

• American Century Companies Inc. increased its stake in Mach Natural Resources LP by 10.9%, now owning approximately 2.09% of the company, valued at about $38.5 million.
• Mach Natural Resources reported earnings of $0.76 per share, exceeding analysts' expectations, and has a dividend yield of 1,057.0%.
• Despite some analysts lowering ratings, the majority of ratings remain positive with a consensus rating of "Buy" and a price target of $23.00.

American Century Companies Inc. boosted its stake in Mach Natural Resources LP (NYSE:MNR - Free Report) by 10.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,478,355 shares of the company's stock after purchasing an additional 244,020 shares during the quarter. American Century Companies Inc. owned about 2.09% of Mach Natural Resources worth $38,538,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in shares of Mach Natural Resources in the fourth quarter valued at $5,128,000. Stifel Financial Corp lifted its stake in shares of Mach Natural Resources by 23.6% in the fourth quarter. Stifel Financial Corp now owns 295,080 shares of the company's stock valued at $5,069,000 after buying an additional 56,306 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in shares of Mach Natural Resources by 6.3% in the first quarter. Chicago Partners Investment Group LLC now owns 257,462 shares of the company's stock valued at $4,004,000 after buying an additional 15,344 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in shares of Mach Natural Resources in the first quarter valued at $3,349,000. Finally, Invesco Ltd. bought a new position in shares of Mach Natural Resources in the fourth quarter valued at $3,079,000. 78.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Mach Natural Resources in a research note on Monday, July 14th. Wall Street Zen lowered shares of Mach Natural Resources from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, William Blair initiated coverage on shares of Mach Natural Resources in a research report on Monday. They set an "outperform" rating on the stock. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $23.00.

Insider Activity

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 3,085 shares of the stock in a transaction dated Monday, August 11th. The shares were bought at an average price of $14.39 per share, with a total value of $44,393.15. Following the completion of the transaction, the director directly owned 74,816,024 shares in the company, valued at approximately $1,076,602,585.36. This trade represents a 0.00% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased a total of 528,614 shares of company stock valued at $7,633,031 over the last 90 days. Insiders own 87.80% of the company's stock.

Mach Natural Resources Stock Performance

MNR stock traded down $0.14 during mid-day trading on Tuesday, hitting $13.78. The company had a trading volume of 106,749 shares, compared to its average volume of 305,485. The firm has a market cap of $1.63 billion, a PE ratio of 7.10 and a beta of -0.07. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.69 and a current ratio of 0.79. Mach Natural Resources LP has a 12 month low of $12.40 and a 12 month high of $19.55. The stock's fifty day moving average price is $14.66 and its two-hundred day moving average price is $14.44.

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

Mach Natural Resources Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, September 4th. Stockholders of record on Friday, August 22nd will be given 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 payout ratio is 78.35%.

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.