Signaturefd LLC Purchases New Shares in Mach Natural Resources LP (NYSE:MNR)

Signaturefd LLC acquired a new position in shares of Mach Natural Resources LP (NYSE:MNR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,500 shares of the company’s stock, valued at approximately $26,000.

A number of other hedge funds also recently bought and sold shares of MNR. Hollencrest Capital Management acquired a new stake in shares of Mach Natural Resources during the fourth quarter valued at approximately $34,000. Raymond James Financial Inc. acquired a new position in Mach Natural Resources in the 4th quarter worth approximately $5,128,000. Parkside Financial Bank & Trust purchased a new position in Mach Natural Resources during the 4th quarter worth approximately $43,000. ING Groep NV acquired a new stake in Mach Natural Resources during the 4th quarter valued at $412,000. Finally, Strategic Financial Concepts LLC lifted its holdings in shares of Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after purchasing an additional 183,870 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MNR. Truist Financial lifted their price target on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a report on Monday, January 13th. Stifel Nicolaus lifted their target price on Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, Raymond James reissued a “strong-buy” rating and issued a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the firm’s stock in a transaction on Friday, February 7th. The stock was bought at an average cost of $15.50 per share, with a total value 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. The trade was a 7.47 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 87.80% of the company’s stock.

Mach Natural Resources Stock Down 0.7 %

Mach Natural Resources stock opened at $15.39 on Wednesday. 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 LP has a 12 month low of $13.53 and a 12 month high of $21.19. The firm’s fifty day moving average is $16.05. The stock has a market cap of $1.82 billion, a PE ratio of 8.10 and a beta of -0.40.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 13.00%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources’s payout ratio is currently 105.26%.

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.