Sei Investments Co. Boosts Stock Holdings in Mach Natural Resources LP (NYSE:MNR)

Sei Investments Co. raised its holdings in Mach Natural Resources LP (NYSE:MNR - Free Report) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. 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 0.26% of Mach Natural Resources worth $4,666,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Signaturefd LLC bought a new stake in Mach Natural Resources in the fourth quarter valued at approximately $26,000. Hollencrest Capital Management bought a new stake in Mach Natural Resources in the fourth quarter valued at $34,000. Raymond James Financial Inc. acquired a new position in shares of Mach Natural Resources during the fourth quarter valued at about $5,128,000. Parkside Financial Bank & Trust acquired a new position in Mach Natural Resources during the 4th quarter worth approximately $43,000. Finally, ING Groep NV bought a new position in shares of Mach Natural Resources in the 4th quarter worth $412,000. Institutional investors own 78.36% of the company's stock.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the firm's stock in a transaction dated Friday, February 7th. The stock was bought at an average price 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 in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 87.80% of the stock is currently owned by company insiders.

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Analysts Set New Price Targets

MNR has been the subject of several recent research reports. Raymond James reissued 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 boosted their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Truist Financial increased 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 Stock Down 11.0 %

MNR stock traded down $1.67 during trading on Friday, reaching $13.58. The stock had a trading volume of 489,181 shares, compared to its average volume of 203,492. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. The stock has a market cap of $1.61 billion, a P/E ratio of 7.15 and a beta of -0.40. Mach Natural Resources LP has a one year low of $13.53 and a one year high of $21.19. The stock has a 50 day moving average price of $15.72.

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 issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 14.73%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's dividend payout ratio is presently 105.26%.

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.