Mach Natural Resources LP $MNR Holdings Raised by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in Mach Natural Resources LP by 8.6%, purchasing an additional 25,778 shares, bringing its total ownership to 324,291 shares, valued at approximately $5 million.
• Institutional investors hold a significant majority, with 78.36% of the company's stock owned by these investors, indicating strong interest in Mach Natural Resources.
• Mach Natural Resources announced a quarterly dividend of $0.38, reflecting an annualized yield of 10.8%, and reported a strong earnings per share of $0.76, surpassing estimates.

Raymond James Financial Inc. increased its holdings in Mach Natural Resources LP (NYSE:MNR - Free Report) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 324,291 shares of the company's stock after acquiring an additional 25,778 shares during the quarter. Raymond James Financial Inc. owned approximately 0.27% of Mach Natural Resources worth $5,043,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Strategic Financial Concepts LLC boosted its stake in shares of Mach Natural Resources by 8.3% during the 1st quarter. Strategic Financial Concepts LLC now owns 12,312 shares of the company's stock valued at $191,000 after buying an additional 948 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Mach Natural Resources by 100.0% during the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company's stock worth $31,000 after purchasing an additional 1,000 shares during the last quarter. Novem Group grew its stake in Mach Natural Resources by 14.3% in 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 in the last quarter. Verdence Capital Advisors LLC bought a new stake in Mach Natural Resources in the first quarter valued at about $177,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Mach Natural Resources during the first quarter valued at approximately $191,000. Institutional investors and hedge funds own 78.36% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MNR. KeyCorp assumed coverage on shares of Mach Natural Resources in a research report on Wednesday, August 27th. They issued an "overweight" rating on the stock. Raymond James Financial reissued a "strong-buy" rating on shares of Mach Natural Resources in a report on Monday, July 14th. Wall Street Zen downgraded Mach Natural Resources from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Finally, William Blair started coverage on shares of Mach Natural Resources in a research report on Monday, August 25th. They set an "outperform" rating for the company. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $23.00.

Insider Activity at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 3,085 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average cost of $14.39 per share, with a total value of $44,393.15. Following the completion of the purchase, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have purchased 376,985 shares of company stock valued at $5,542,772. 87.80% of the stock is owned by insiders.

Mach Natural Resources Price Performance

Mach Natural Resources stock traded up $0.16 during trading hours on Wednesday, hitting $13.73. 164,858 shares of the company traded hands, compared to its average volume of 232,205. Mach Natural Resources LP has a 1-year low of $12.40 and a 1-year high of $19.00. The firm has a market cap of $1.62 billion, a P/E ratio of 7.08 and a beta of -0.07. The firm's 50-day simple moving average is $14.50 and its two-hundred day simple moving average is $14.29. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.41.

Mach Natural Resources (NYSE:MNR - Get Free Report) last released 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. Mach Natural Resources had a return on equity of 23.23% and a net margin of 20.83%.The firm had revenue of $288.52 million during the quarter, compared to the consensus estimate of $237.56 million. As a group, 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 disclosed a quarterly dividend, which was paid on Thursday, September 4th. Stockholders of record on Thursday, August 21st were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 21st. This represents a $1.52 annualized dividend and a dividend yield of 11.1%. Mach Natural Resources's payout ratio is currently 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.