Sei Investments Co. Buys 21,101 Shares of Mach Natural Resources LP (NYSE:MNR)

Sei Investments Co. raised its stake in Mach Natural Resources LP (NYSE:MNR - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 271,608 shares of the company's stock after purchasing an additional 21,101 shares during the quarter. Sei Investments Co. owned approximately 0.26% of Mach Natural Resources worth $4,666,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Signaturefd LLC bought a new position in shares of Mach Natural Resources in the fourth quarter valued at $26,000. Hollencrest Capital Management bought a new position in shares of Mach Natural Resources in the 4th quarter valued at about $34,000. Parkside Financial Bank & Trust acquired a new position in shares of Mach Natural Resources during the 4th quarter worth about $43,000. Avior Wealth Management LLC increased its stake in shares of Mach Natural Resources by 33.3% during 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 last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Mach Natural Resources by 13.7% in 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 during the period. Institutional investors own 78.36% of the company's stock.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of Mach Natural Resources stock in a transaction dated 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 transaction, the director now 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 87.80% of the stock is owned by corporate insiders.

Mach Natural Resources Stock Performance

MNR traded down $0.37 on Monday, reaching $13.23. The company had a trading volume of 497,063 shares, compared to its average volume of 204,908. The firm's fifty day simple moving average is $15.53. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24. The firm has a market cap of $1.57 billion, a PE ratio of 6.96 and a beta of -0.44. Mach Natural Resources LP has a fifty-two week low of $12.60 and a fifty-two week high of $21.19.

Mach Natural Resources Cuts Dividend

The company 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 annualized dividend and a dividend yield of 15.11%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's payout ratio is 105.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on MNR shares. Raymond James reiterated a "strong-buy" rating and set a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Truist Financial boosted their target price on Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, Stifel Nicolaus raised their price target on Mach Natural Resources from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, February 7th.

About Mach Natural Resources

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.