Raymond James Financial Inc. Takes $5.13 Million Position in Mach Natural Resources LP (NYSE:MNR)

Raymond James Financial Inc. purchased a new position in shares of Mach Natural Resources LP (NYSE:MNR) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 298,513 shares of the company’s stock, valued at approximately $5,128,000. Raymond James Financial Inc. owned 0.29% of Mach Natural Resources as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signaturefd LLC acquired a new position in shares of Mach Natural Resources in the fourth quarter worth $26,000. Hollencrest Capital Management acquired a new position in Mach Natural Resources in the 4th quarter worth about $34,000. Parkside Financial Bank & Trust acquired a new stake in shares of Mach Natural Resources during the 4th quarter valued at about $43,000. Avior Wealth Management LLC grew its stake in shares of Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after buying an additional 3,000 shares in the last quarter. Finally, LPL Financial LLC raised its position in Mach Natural Resources by 28.1% during the fourth quarter. LPL Financial LLC now owns 43,001 shares of the company’s stock valued at $739,000 after acquiring an additional 9,435 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director William Wallace Mcmullen purchased 5,161,290 shares of Mach Natural Resources stock in a transaction on Friday, February 7th. The stock was purchased at an average cost of $15.50 per share, with a total value of $79,999,995.00. Following the acquisition, the director now directly owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 87.80% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MNR. Truist Financial increased their price target on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. Stifel Nicolaus raised their target price on 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 reiterated a “strong-buy” rating and set a $25.00 price target (up previously from $23.00) on shares of Mach Natural Resources in a research note on Monday, February 10th.

Mach Natural Resources Trading Up 0.3 %

NYSE:MNR opened at $13.99 on Friday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of 7.36 and a beta of -0.44. Mach Natural Resources LP has a 1 year low of $12.40 and a 1 year high of $21.19. 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 firm has a fifty day moving average price of $14.47.

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 given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 14.30%. The ex-dividend date was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio is currently 105.26%.

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.