Invesco Ltd. Acquires New Holdings in Mach Natural Resources LP (NYSE:MNR)

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Sei Investments Co. raised its position in shares of Mach Natural Resources by 8.4% during 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 last quarter. Franklin Resources Inc. raised its holdings in Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company's stock worth $2,354,000 after purchasing an additional 16,725 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Mach Natural Resources by 7.7% during the 4th 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 during the period. Raymond James Financial Inc. bought a new position in shares of Mach Natural Resources in the 4th quarter valued at about $5,128,000. Finally, Strategic Financial Concepts LLC grew its position in shares of Mach Natural Resources by 1,618.0% during the 4th 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 period. Institutional investors and hedge funds own 78.36% of the company's stock.

Insiders Place Their Bets

In other news, Director William Wallace Mcmullen purchased 5,161,290 shares of Mach Natural Resources stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average cost of $15.50 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 87.80% of the company's stock.

Mach Natural Resources Stock Down 3.6 %

Shares of NYSE:MNR traded down $0.50 during midday trading on Tuesday, hitting $13.48. The stock had a trading volume of 152,009 shares, compared to its average volume of 213,710. The firm has a market capitalization of $1.60 billion, a P/E ratio of 7.09 and a beta of -0.44. Mach Natural Resources LP has a 12 month low of $12.40 and a 12 month high of $21.19. The business has a 50-day moving average of $14.42. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 14.84%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's dividend payout ratio is 105.26%.

Wall Street Analysts Forecast Growth

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

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.