Invesco Ltd. Invests $3.08 Million in Mach Natural Resources LP (NYSE:MNR)

Invesco Ltd. bought a new stake in Mach Natural Resources LP (NYSE:MNR - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 179,219 shares of the company's stock, valued at approximately $3,079,000. Invesco Ltd. owned approximately 0.17% of Mach Natural Resources as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MNR. Franklin Resources Inc. boosted its stake in Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company's stock valued at $2,354,000 after purchasing an additional 16,725 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company's stock valued at $206,000 after buying an additional 3,000 shares in the last quarter. Chicago Partners Investment Group LLC boosted its stake in Mach Natural Resources by 7.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company's stock valued at $4,145,000 after buying an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC raised its position in Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock worth $3,354,000 after acquiring an additional 183,870 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Mach Natural Resources in the 4th quarter valued at about $412,000. Institutional investors and hedge funds own 78.36% of the company's stock.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the stock in a transaction on Friday, February 7th. The shares were bought at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the purchase, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. The trade was a 7.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 87.80% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MNR. Truist Financial lifted their price objective on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Raymond James reaffirmed 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. Finally, Stifel Nicolaus raised their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday, February 7th.

Mach Natural Resources Trading Up 0.9 %

MNR stock traded up $0.13 during mid-day trading on Friday, reaching $13.62. 13,484 shares of the stock traded hands, compared to its average volume of 213,445. Mach Natural Resources LP has a 52-week low of $12.40 and a 52-week high of $20.96. The stock has a fifty day moving average of $14.27. The stock has a market capitalization of $1.61 billion, a P/E ratio of 7.19 and a beta of -0.44. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 14.69%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources's dividend payout ratio is 105.26%.

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.