Mach Natural Resources (NYSE:MNR) Hits New 1-Year Low – Here’s What Happened

Mach Natural Resources LP (NYSE:MNR) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $12.40 and last traded at $12.63, with a volume of 97900 shares. The stock had previously closed at $13.60.

Wall Street Analyst Weigh In

MNR has been the topic of a number of recent research reports. Truist Financial lifted their price target 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 report on Friday, February 7th. Finally, Raymond James reaffirmed a “strong-buy” rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

Mach Natural Resources Stock Down 0.9 %

The company has a quick ratio of 1.16, a current ratio of 1.24 and a debt-to-equity ratio of 0.56. The business has a 50 day simple moving average of $15.63. The stock has a market cap of $1.59 billion, a PE ratio of 7.14 and a beta of -0.44.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, February 27th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 14.85%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio (DPR) is presently 105.26%.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of Mach Natural Resources stock in a transaction that occurred on Friday, February 7th. The stock was acquired at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the transaction, the director now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of MNR. Signaturefd LLC bought a new stake in Mach Natural Resources in the 4th quarter valued at about $26,000. Hollencrest Capital Management acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $34,000. Parkside Financial Bank & Trust bought a new stake in shares of Mach Natural Resources during the fourth quarter valued at approximately $43,000. Avior Wealth Management LLC boosted its position in shares of Mach Natural Resources by 33.3% during the fourth quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after buying an additional 3,000 shares during the period. Finally, XTX Topco Ltd grew its holdings in Mach Natural Resources by 11.5% in the 4th quarter. XTX Topco Ltd now owns 13,003 shares of the company’s stock worth $223,000 after buying an additional 1,341 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

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.