Chicago Partners Investment Group LLC Raises Stock Holdings in Mach Natural Resources LP $MNR

Chicago Partners Investment Group LLC raised its holdings in Mach Natural Resources LP (NYSE:MNR) by 2.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 264,969 shares of the company’s stock after purchasing an additional 7,507 shares during the period. Chicago Partners Investment Group LLC owned about 0.22% of Mach Natural Resources worth $3,998,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MNR. Chung Wu Investment Group LLC purchased a new position in shares of Mach Natural Resources during the 2nd quarter valued at approximately $38,000. State of Wyoming purchased a new position in Mach Natural Resources during the first quarter valued at $108,000. Hudson Valley Investment Advisors Inc. ADV acquired a new stake in shares of Mach Natural Resources in the second quarter valued at about $144,000. Arrow Investment Advisors LLC purchased a new stake in shares of Mach Natural Resources during the second quarter worth about $156,000. Finally, Verdence Capital Advisors LLC purchased a new stake in shares of Mach Natural Resources during the first quarter worth about $177,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director William Wallace Mcmullen bought 3,085 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were bought at an average cost of $14.39 per share, for a total transaction of $44,393.15. Following the acquisition, the director directly owned 74,816,024 shares of the company’s stock, valued at $1,076,602,585.36. This trade represents a 0.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 87.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Zacks Research lowered shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Wall Street Zen lowered Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Saturday, July 26th. Raymond James Financial reissued a “strong-buy” rating on shares of Mach Natural Resources in a research note on Monday, July 14th. William Blair initiated coverage on Mach Natural Resources in a report on Monday, August 25th. They issued an “outperform” rating on the stock. Finally, KeyCorp started coverage on shares of Mach Natural Resources in a report on Wednesday, August 27th. They set an “overweight” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.50.

Mach Natural Resources Price Performance

MNR stock opened at $11.92 on Monday. Mach Natural Resources LP has a 1 year low of $11.79 and a 1 year high of $19.00. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.79 and a quick ratio of 0.69. The firm has a market capitalization of $1.41 billion, a PE ratio of 6.14 and a beta of -0.11. The business has a 50 day simple moving average of $13.51 and a 200-day simple moving average of $13.92.

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

Mach Natural Resources Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 12.8%. The ex-dividend date was Thursday, August 21st. Mach Natural Resources’s dividend payout ratio (DPR) is presently 78.35%.

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.