Zuckerman Investment Group LLC lifted its position in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 34.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 105,000 shares of the company's stock after purchasing an additional 27,000 shares during the quarter. Zuckerman Investment Group LLC owned 0.10% of Mach Natural Resources worth $1,843,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of MNR. Raymond James Financial Inc. purchased a new position in Mach Natural Resources during the fourth quarter worth approximately $5,128,000. Sei Investments Co. boosted its stake in shares of Mach Natural Resources by 8.4% in the fourth quarter. Sei Investments Co. now owns 271,608 shares of the company's stock valued at $4,666,000 after purchasing an additional 21,101 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Mach Natural Resources by 7.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company's stock valued at $4,145,000 after acquiring an additional 17,215 shares in the last quarter. Strategic Financial Concepts LLC lifted its stake in Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company's stock valued at $3,354,000 after buying an additional 183,870 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in shares of Mach Natural Resources in the fourth quarter valued at about $3,079,000. Hedge funds and other 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 purchased 5,161,290 shares of the stock in a transaction dated Friday, February 7th. The shares were bought at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the acquisition, the director now owns 74,287,410 shares of the company's stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 87.80% of the company's stock.
Mach Natural Resources Price Performance
Mach Natural Resources stock traded up $0.18 during midday trading on Tuesday, hitting $13.29. 59,511 shares of the company were exchanged, compared to its average volume of 316,083. The company has a market cap of $1.57 billion, a P/E ratio of 6.99 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 $21.19. The stock has a fifty day simple moving average of $14.94. 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 disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders 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 yield of 15.05%. Mach Natural Resources's dividend payout ratio (DPR) is presently 105.26%.
Analyst Upgrades and Downgrades
A number of analysts have commented on MNR shares. Raymond James reiterated 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 lifted their target price on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Truist Financial upped their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a "buy" rating in a research note on Monday, January 13th.
View Our Latest Stock Analysis on MNR
Mach Natural Resources Company Profile
(
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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