Mach Natural Resources (NYSE:MNR) Insider Tom Ward Purchases 172,413 Shares of Stock

Mach Natural Resources LP (NYSE:MNR) insider Tom Ward acquired 172,413 shares of the stock in a transaction dated Monday, September 14th. The stock was acquired at an average cost of $11.60 per share, with a total value of $1,999,990.80. Following the transaction, the insider directly owned 13,467,452 shares in the company, valued at approximately $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Mach Natural Resources Stock Down 2.9%

Shares of MNR stock opened at $10.88 on Thursday. The stock’s fifty day moving average price is $12.86 and its 200 day moving average price is $13.18. Mach Natural Resources LP has a 1-year low of $10.46 and a 1-year high of $15.02. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 18.43 and a beta of -0.32. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.88 and a quick ratio of 0.76.

Mach Natural Resources Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. lifted its holdings in Mach Natural Resources by 3.2% in the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after acquiring an additional 913 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Mach Natural Resources in the 4th quarter worth approximately $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new stake in shares of Mach Natural Resources during the 4th quarter worth approximately $42,000. CENTRAL TRUST Co grew its position in Mach Natural Resources by 384.7% during the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock valued at $70,000 after buying an additional 3,962 shares during the period. Finally, Royal Bank of Canada increased its holdings in Mach Natural Resources by 42.8% in the first 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 in the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Capital One Financial started coverage on shares of Mach Natural Resources in a research report on Friday, September 4th. They issued an “overweight” rating and a $16.00 price objective for the company. Zacks Research downgraded shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday. Weiss Ratings upgraded shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Citigroup reaffirmed an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. Finally, Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average 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.