Mach Natural Resources (NYSE:MNR) Insider Purchases 172,413 Shares

Mach Natural Resources LP (NYSE:MNR) insider Tom Ward purchased 172,413 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $11.60 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,467,452 shares in the company, valued at approximately $156,222,443.20. This trade represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link.

Mach Natural Resources Price Performance

Shares of Mach Natural Resources stock traded down $0.33 on Wednesday, hitting $10.88. The company’s stock had a trading volume of 2,106,239 shares, compared to its average volume of 961,779. Mach Natural Resources LP has a 52-week low of $10.46 and a 52-week high of $15.02. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The firm has a fifty day moving average price of $12.86 and a 200-day moving average price of $13.18. The company has a market capitalization of $1.82 billion, a P/E ratio of 18.43 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 13.2%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s dividend payout ratio (DPR) is presently 244.07%.

Institutional Investors Weigh In On Mach Natural Resources

Hedge funds have recently added to or reduced their stakes in the stock. Hilton Head Capital Partners LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter valued at $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in Mach Natural Resources in the 4th quarter worth about $42,000. CENTRAL TRUST Co boosted its holdings in shares of Mach Natural Resources by 384.7% during the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after purchasing an additional 3,962 shares during the period. Royal Bank of Canada increased its stake in Mach Natural Resources by 42.8% in the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after buying an additional 4,164 shares during the period. Finally, Alpine Global Management LLC purchased a new stake in Mach Natural Resources in the 4th quarter worth approximately $178,000. 78.36% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Raymond James Financial raised their price objective on Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 14th. Capital One Financial started coverage on shares of Mach Natural Resources in a report on Friday, September 4th. They issued an “overweight” rating and a $16.00 price objective on the stock. Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Citigroup reaffirmed an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Finally, Stephens set a $20.00 price target on Mach Natural Resources in a report on Monday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $16.83.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company’s operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources’ production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.