Mach Natural Resources LP (NYSE:MNR) Shares Bought by Stifel Financial Corp

Stifel Financial Corp boosted its position in shares of Mach Natural Resources LP (NYSE:MNR) by 23.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 295,080 shares of the company’s stock after acquiring an additional 56,306 shares during the period. Stifel Financial Corp’s holdings in Mach Natural Resources were worth $5,069,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MNR. Franklin Resources Inc. grew its position in Mach Natural Resources by 13.7% during the third 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 period. Avior Wealth Management LLC grew its position in Mach Natural Resources by 33.3% during the fourth 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. Chicago Partners Investment Group LLC grew its position in Mach Natural Resources by 7.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after buying an additional 17,215 shares during the period. Strategic Financial Concepts LLC grew 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 valued at $3,354,000 after buying an additional 183,870 shares during the period. Finally, ING Groep NV acquired a new stake in Mach Natural Resources during the fourth quarter valued at $412,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

Insiders Place Their Bets

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of the business’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price 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 in the company, valued at $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 87.80% of the company’s stock.

Mach Natural Resources Stock Down 0.3 %

Shares of NYSE MNR opened at $13.46 on Thursday. The firm has a 50-day moving average of $14.32. Mach Natural Resources LP has a 52-week low of $12.40 and a 52-week high of $20.96. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.08 and a beta of -0.44. 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. Investors of record on Thursday, February 27th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, February 27th. This represents a $2.00 annualized dividend and a yield of 14.86%. Mach Natural Resources’s dividend payout ratio is presently 105.26%.

Wall Street Analyst Weigh In

MNR has been the topic of several research analyst reports. Truist Financial lifted their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Stifel Nicolaus lifted their target price on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Raymond James reiterated a “strong-buy” rating and issued a $25.00 target price (up previously from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

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.