Stifel Financial Corp Grows Stock Position in Mach Natural Resources LP (NYSE:MNR)

Stifel Financial Corp grew its position in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 23.6% in the fourth quarter, according to its most recent filing with the 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 about 0.29% of Mach Natural Resources worth $5,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC purchased a new position in shares of Mach Natural Resources during the 4th quarter worth about $26,000. Hollencrest Capital Management bought a new stake in Mach Natural Resources during the 4th quarter valued at $34,000. Parkside Financial Bank & Trust bought a new stake in shares of Mach Natural Resources in the fourth quarter valued at about $43,000. Avior Wealth Management LLC lifted its position in shares of Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company's stock worth $206,000 after purchasing an additional 3,000 shares during the period. Finally, XTX Topco Ltd boosted its position in Mach Natural Resources by 11.5% during the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company's stock valued at $223,000 after acquiring an additional 1,341 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

Mach Natural Resources Stock Down 2.4 %

Shares of NYSE:MNR traded down $0.33 during trading on Monday, reaching $13.48. 142,946 shares of the company's stock traded hands, compared to its average volume of 214,888. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.09 and a beta of -0.44. Mach Natural Resources LP has a fifty-two week low of $12.40 and a fifty-two week high of $20.96. The stock has a 50-day simple moving average of $14.23. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.50 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 14.84%. Mach Natural Resources's dividend payout ratio is currently 105.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MNR shares. Stifel Nicolaus raised their price target on shares of 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 issued a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Truist Financial boosted their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a "buy" rating in a research report on Monday, January 13th.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm's stock in a transaction on Friday, February 7th. The shares were acquired at an average cost 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 of the company's stock, valued at $1,151,454,855. This trade represents a 7.47 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 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.