American Century Companies Inc. Acquires 2,241 Shares of Mach Natural Resources LP (NYSE:MNR)

American Century Companies Inc. increased its stake in Mach Natural Resources LP (NYSE:MNR) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,234,335 shares of the company’s stock after purchasing an additional 2,241 shares during the quarter. American Century Companies Inc. owned approximately 2.16% of Mach Natural Resources worth $38,386,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Signaturefd LLC purchased a new stake in Mach Natural Resources in the fourth quarter worth about $26,000. Hollencrest Capital Management purchased a new stake in Mach Natural Resources in the 4th quarter worth approximately $34,000. Raymond James Financial Inc. bought a new stake in Mach Natural Resources during the 4th quarter worth approximately $5,128,000. Parkside Financial Bank & Trust purchased a new position in Mach Natural Resources during the fourth quarter valued at approximately $43,000. Finally, ING Groep NV purchased a new position in Mach Natural Resources during the fourth quarter valued at approximately $412,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 5,161,290 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were purchased at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the purchase, the director now owns 74,287,410 shares in the company, valued at $1,151,454,855. This represents a 7.47 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 87.80% of the company’s stock.

Mach Natural Resources Stock Performance

NYSE MNR opened at $15.32 on Friday. The firm’s 50 day moving average is $15.96. Mach Natural Resources LP has a fifty-two week low of $13.53 and a fifty-two week high of $21.19. The company has a market cap of $1.81 billion, a P/E ratio of 8.06 and a beta of -0.40. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 13th. Shareholders of record on Thursday, February 27th were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 13.05%. The ex-dividend date of this dividend was Thursday, February 27th. Mach Natural Resources’s dividend payout ratio (DPR) is 105.26%.

Analysts Set New Price Targets

MNR has been the subject of several research analyst reports. Raymond James reiterated a “strong-buy” rating and set a $25.00 target price (up previously from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th. Stifel Nicolaus increased their price objective 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, Truist Financial boosted their target price on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, January 13th.

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.