Stifel Financial Corp grew its position in Mach Natural Resources LP (NYSE:MNR - Free Report) by 23.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 295,080 shares of the company's stock after acquiring an additional 56,306 shares during the quarter. Stifel Financial Corp owned 0.29% of Mach Natural Resources worth $5,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in shares of Mach Natural Resources during the fourth quarter valued at approximately $5,128,000. Sei Investments Co. lifted its stake in Mach Natural Resources by 8.4% in the fourth quarter. Sei Investments Co. now owns 271,608 shares of the company's stock worth $4,666,000 after acquiring an additional 21,101 shares during the period. Chicago Partners Investment Group LLC boosted its stake in shares of 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 purchasing an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC increased its holdings in shares of Mach Natural Resources by 1,618.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock valued at $3,354,000 after acquiring an additional 183,870 shares during the period. Finally, Invesco Ltd. purchased a new stake in Mach Natural Resources during the fourth quarter valued at approximately $3,079,000. Hedge funds and other institutional investors own 78.36% of the company's stock.
Mach Natural Resources Price Performance
Mach Natural Resources stock traded down $0.02 during midday trading on Tuesday, reaching $13.34. The company had a trading volume of 11,659 shares, compared to its average volume of 214,540. The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. Mach Natural Resources LP has a 12-month low of $12.40 and a 12-month high of $20.96. The company has a market capitalization of $1.58 billion, a P/E ratio of 7.02 and a beta of -0.44. The business has a fifty day moving average of $14.18.
Mach Natural Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.99%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's dividend payout ratio (DPR) is 105.26%.
Insiders Place Their Bets
In related news, Director William Wallace Mcmullen bought 5,161,290 shares of the stock in a transaction on Friday, February 7th. The stock was bought at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the purchase, the director now directly owns 74,287,410 shares in the company, valued at $1,151,454,855. This represents a 7.47 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 87.80% of the company's stock.
Wall Street Analyst Weigh In
MNR has been the subject of several recent analyst reports. Stifel Nicolaus raised their price target on Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Truist Financial boosted their price objective on Mach Natural Resources from $23.00 to $24.00 and gave the company a "buy" rating in a report on Monday, January 13th. Finally, Raymond James restated a "strong-buy" rating and set a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.
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About Mach Natural Resources
(
Free Report)
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.
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