Mach Natural Resources (NYSE:MNR) Shares Down 4.3% - Time to Sell?

Mach Natural Resources LP (NYSE:MNR - Get Free Report)'s stock price was down 4.3% during mid-day trading on Tuesday . The company traded as low as $13.33 and last traded at $13.38. Approximately 76,820 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 213,024 shares. The stock had previously closed at $13.98.

Wall Street Analysts Forecast Growth

MNR has been the topic of several recent research reports. Stifel Nicolaus raised their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, February 7th. Raymond James restated a "strong-buy" rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Finally, Truist Financial lifted their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a research note on Monday, January 13th.

Mach Natural Resources Trading Up 2.1 %

The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $1.63 billion, a PE ratio of 7.25 and a beta of -0.44. The stock's fifty day simple moving average is $14.23.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 14.51%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources's dividend payout ratio (DPR) is presently 105.26%.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the purchase, the director now owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 87.80% of the company's stock.

Institutional Trading of Mach Natural Resources

Several institutional investors have recently bought and sold shares of the stock. Raymond James Financial Inc. acquired a new stake in shares of Mach Natural Resources in the 4th quarter valued at $5,128,000. Strategic Financial Concepts LLC grew its stake in Mach Natural Resources by 1,618.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock worth $3,354,000 after buying an additional 183,870 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Mach Natural Resources during the fourth quarter worth approximately $3,079,000. Stephens Inc. AR raised its stake in shares of Mach Natural Resources by 81.5% in the first quarter. Stephens Inc. AR now owns 143,410 shares of the company's stock valued at $2,230,000 after acquiring an additional 64,410 shares during the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Mach Natural Resources by 23.6% in the 4th quarter. Stifel Financial Corp now owns 295,080 shares of the company's stock worth $5,069,000 after acquiring an additional 56,306 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company's stock.

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.