Stephens Inc. AR Reduces Holdings in Mach Natural Resources LP (NYSE:MNR)

Stephens Inc. AR cut its holdings in shares of Mach Natural Resources LP (NYSE:MNR - Free Report) by 40.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 79,000 shares of the company's stock after selling 54,300 shares during the quarter. Stephens Inc. AR owned about 0.08% of Mach Natural Resources worth $1,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MNR. Avior Wealth Management LLC grew its stake 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. Franklin Resources Inc. lifted 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 worth $2,354,000 after acquiring an additional 16,725 shares during the last quarter. Chicago Partners Investment Group LLC lifted its holdings in shares of Mach Natural Resources by 7.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company's stock worth $4,145,000 after acquiring an additional 17,215 shares during the last quarter. Finally, Strategic Financial Concepts LLC lifted its holdings in Mach Natural Resources by 1,618.0% during the 4th 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. 78.36% of the stock is currently owned by institutional investors and hedge funds.

Mach Natural Resources Price Performance

Shares of MNR traded up $0.01 during midday trading on Friday, reaching $16.13. The stock had a trading volume of 637,919 shares, compared to its average volume of 253,749. Mach Natural Resources LP has a 1-year low of $14.46 and a 1-year high of $21.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th will be issued a $0.50 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 12.40%.

Analysts Set New Price Targets

MNR has been the topic of a number of research reports. Stifel Nicolaus increased their target price on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Truist Financial increased their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a "buy" rating in a report on Monday, January 13th. Finally, 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 report on Monday, February 10th.

Insider Activity

In other news, Director William Wallace Mcmullen acquired 5,161,290 shares of Mach Natural Resources stock in a transaction dated Friday, February 7th. The shares were acquired at an average cost of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares of the company's stock, valued at $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 87.80% of the company's stock.

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.