Verdence Capital Advisors LLC Buys 6,075 Shares of Mach Natural Resources LP $MNR

Verdence Capital Advisors LLC increased its position in Mach Natural Resources LP (NYSE:MNR) by 53.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,475 shares of the company’s stock after acquiring an additional 6,075 shares during the period. Verdence Capital Advisors LLC’s holdings in Mach Natural Resources were worth $252,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of MNR. Strategic Financial Concepts LLC increased its position in shares of Mach Natural Resources by 8.3% during the 1st quarter. Strategic Financial Concepts LLC now owns 12,312 shares of the company’s stock valued at $191,000 after purchasing an additional 948 shares during the last quarter. Novem Group grew its position in Mach Natural Resources by 14.3% during the first quarter. Novem Group now owns 16,000 shares of the company’s stock valued at $249,000 after buying an additional 2,000 shares during the period. Janney Montgomery Scott LLC grew its position in shares of Mach Natural Resources by 20.4% during the 2nd quarter. Janney Montgomery Scott LLC now owns 14,754 shares of the company’s stock valued at $213,000 after acquiring an additional 2,500 shares during the period. Chung Wu Investment Group LLC bought a new stake in shares of Mach Natural Resources during the 2nd quarter valued at $38,000. Finally, State of Wyoming bought a new stake in shares of Mach Natural Resources during the 1st quarter valued at $108,000. Institutional investors own 78.36% of the company’s stock.

Insider Activity

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 3,085 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was purchased at an average cost of $14.39 per share, with a total value of $44,393.15. Following the purchase, the director owned 74,816,024 shares of the company’s stock, valued at approximately $1,076,602,585.36. The trade was a 0.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 87.80% of the company’s stock.

Analysts Set New Price Targets

MNR has been the subject of several recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Mach Natural Resources in a report on Wednesday, October 8th. KeyCorp initiated coverage on Mach Natural Resources in a research note on Wednesday, August 27th. They set an “overweight” rating for the company. Northland Securities set a $21.00 price objective on Mach Natural Resources in a research note on Tuesday. Zacks Research lowered Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday. Finally, Raymond James Financial restated a “strong-buy” rating on shares of Mach Natural Resources in a research report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and an average target price of $22.50.

Mach Natural Resources Price Performance

NYSE:MNR opened at $12.05 on Friday. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 6.21 and a beta of -0.11. Mach Natural Resources LP has a 1 year low of $11.91 and a 1 year high of $19.00. The business has a 50 day simple moving average of $13.56 and a 200-day simple moving average of $13.97. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, August 7th. The company reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.23. The firm had revenue of $288.52 million during the quarter, compared to analyst estimates of $237.56 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. Equities analysts forecast that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date of this dividend was Thursday, August 21st. Mach Natural Resources’s dividend payout ratio (DPR) is currently 78.35%.

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.