American Century Companies Inc. Has $38.54 Million 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. increased its holdings in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,478,355 shares of the company's stock after buying an additional 244,020 shares during the quarter. American Century Companies Inc. owned 2.09% of Mach Natural Resources worth $38,538,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in MNR. Parallel Advisors LLC raised its stake in 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 buying an additional 1,000 shares during the period. Verdence Capital Advisors LLC acquired a new stake in Mach Natural Resources during the 1st quarter worth $177,000. Strategic Financial Concepts LLC raised its holdings in shares of 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. Janney Montgomery Scott LLC acquired a new stake in shares of Mach Natural Resources during the first quarter worth $191,000. Finally, XTX Topco Ltd increased its holdings in Mach Natural Resources by 11.5% during the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company's stock worth $223,000 after purchasing an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on MNR. Wall Street Zen cut Mach Natural Resources from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Raymond James Financial reiterated a "strong-buy" rating on shares of Mach Natural Resources in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $23.00.

Mach Natural Resources Stock Up 1.7%

Shares of NYSE MNR traded up $0.23 during mid-day trading on Friday, hitting $13.78. The company had a trading volume of 257,454 shares, compared to its average volume of 319,176. The company has a market capitalization of $1.63 billion, a PE ratio of 4.99 and a beta of -0.07. The firm has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $14.47. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41. Mach Natural Resources LP has a one year low of $12.40 and a one year high of $20.85.

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

Mach Natural Resources Announces Dividend

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

Insider Buying and Selling at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 144,900 shares of the firm's stock in a transaction dated Monday, June 16th. The stock was bought at an average price of $14.96 per share, for a total transaction of $2,167,704.00. Following the acquisition, the director directly owned 74,812,939 shares of the company's stock, valued at approximately $1,119,201,567.44. The trade was a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last three months, insiders bought 528,614 shares of company stock valued at $7,633,031. 87.80% of the stock is owned by company insiders.

Mach Natural Resources Company 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.