Raymond James Financial Inc. purchased a new stake in Mach Natural Resources LP (NYSE:MNR - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 298,513 shares of the company's stock, valued at approximately $5,128,000. Raymond James Financial Inc. owned about 0.29% of Mach Natural Resources at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Parkside Financial Bank & Trust bought a new stake in Mach Natural Resources during the fourth quarter valued at $43,000. Avior Wealth Management LLC boosted its holdings in shares of Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company's stock valued at $206,000 after buying an additional 3,000 shares during the period. ING Groep NV bought a new stake in shares of Mach Natural Resources during the 4th quarter valued at about $412,000. Franklin Resources Inc. grew its position in shares of Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company's stock valued at $2,354,000 after buying an additional 16,725 shares during the last quarter. Finally, Strategic Financial Concepts LLC raised its stake 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 acquiring an additional 183,870 shares during the period. 78.36% of the stock is owned by institutional investors and hedge funds.
Mach Natural Resources Stock Performance
Shares of NYSE:MNR traded up $0.03 during trading hours on Friday, hitting $15.37. The stock had a trading volume of 98,358 shares, compared to its average volume of 201,997. The firm has a fifty day moving average price of $15.91. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of 8.09 and a beta of -0.40. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. Mach Natural Resources LP has a 1-year low of $13.53 and a 1-year high of $21.19.
Mach Natural Resources Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Investors of record on Thursday, February 27th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 13.01%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources's dividend payout ratio is currently 105.26%.
Analysts Set New Price Targets
A number of equities analysts have commented on MNR shares. Truist Financial lifted 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. Raymond James restated a "strong-buy" rating and set a $25.00 price objective (up from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th. Finally, Stifel Nicolaus increased their target price on Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a research report on Friday, February 7th.
View Our Latest Analysis on MNR
Insider Buying and Selling at Mach Natural Resources
In related news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm's stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 87.80% of the stock is owned by company insiders.
About Mach Natural Resources
(
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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