Mach Natural Resources (NYSE:MNR) Reaches New 12-Month Low - Time to Sell?

Shares of Mach Natural Resources LP (NYSE:MNR - Get Free Report) reached a new 52-week low during trading on Monday . The stock traded as low as $14.42 and last traded at $14.43, with a volume of 210646 shares changing hands. The stock had previously closed at $14.85.

Wall Street Analysts Forecast Growth

MNR has been the subject of a number of analyst reports. Truist Financial upped their price objective 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. Raymond James reaffirmed a "strong-buy" rating and issued a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th. Finally, Stifel Nicolaus raised their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the company a "buy" rating in a report on Friday, February 7th.

Mach Natural Resources Price Performance

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 50 day moving average price of $16.66. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 5.59 and a beta of -0.79.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.00 annualized dividend and a yield of 14.31%. Mach Natural Resources's dividend payout ratio (DPR) is currently 80.00%.

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Insider Buying and Selling 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 acquired at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the completion of the transaction, the director now directly owns 74,287,410 shares of the company's stock, valued at approximately $1,151,454,855. This represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 87.80% of the company's stock.

Hedge Funds Weigh In On Mach Natural Resources

Institutional investors and hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in 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 acquiring an additional 16,725 shares during the last quarter. Avior Wealth Management LLC grew its position in shares of Mach Natural Resources by 33.3% in the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company's stock valued at $206,000 after purchasing an additional 3,000 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings 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 purchasing an additional 17,215 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Mach Natural Resources by 1,618.0% during the fourth 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 in the last quarter. Finally, ING Groep NV acquired a new position in Mach Natural Resources during the fourth quarter worth $412,000. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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.