10,335 Shares in Mach Natural Resources LP $MNR Purchased by Wedbush Securities Inc.

Wedbush Securities Inc. bought a new stake in shares of Mach Natural Resources LP (NYSE:MNR) in the second quarter, Holdings Channel reports. The fund bought 10,335 shares of the company’s stock, valued at approximately $149,000.

Several other large investors have also recently made changes to their positions in the company. Chung Wu Investment Group LLC acquired a new position in Mach Natural Resources in the 2nd quarter valued at $38,000. State of Wyoming acquired a new stake in Mach Natural Resources during the 1st quarter worth $108,000. Hudson Valley Investment Advisors Inc. ADV purchased a new stake in shares of Mach Natural Resources during the second quarter worth $144,000. Arrow Investment Advisors LLC acquired a new stake in shares of Mach Natural Resources in the second quarter valued at about $156,000. Finally, Verdence Capital Advisors LLC acquired a new position in 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.

Wall Street Analysts Forecast Growth

MNR has been the topic of several recent research reports. Weiss Ratings restated a “hold (c-)” rating on shares of Mach Natural Resources in a report on Wednesday, October 8th. Zacks Research downgraded Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Northland Capmk upgraded shares of Mach Natural Resources to a “strong-buy” rating in a research report on Monday, October 13th. Northland Securities set a $20.00 target price on shares of Mach Natural Resources in a research note on Monday. Finally, Wall Street Zen lowered shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. 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 issued a Sell rating to the company. Based on data from MarketBeat.com, Mach Natural Resources presently has an average rating of “Moderate Buy” and an average target price of $22.25.

Mach Natural Resources Price Performance

MNR opened at $11.93 on Friday. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 6.15 and a beta of -0.11. The company has a current ratio of 0.79, a quick ratio of 0.69 and a debt-to-equity ratio of 0.41. The stock’s 50-day moving average price is $12.70 and its 200 day moving average price is $13.73. Mach Natural Resources LP has a 12-month low of $11.39 and a 12-month high of $19.00.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. The company had revenue of $272.56 million for the quarter, compared to analyst estimates of $243.65 million. Mach Natural Resources had a net margin of 20.83% and a return on equity of 23.23%. As a group, sell-side analysts expect that Mach Natural Resources LP will post 1.95 earnings per share for the current year.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 20th will be issued a $0.27 dividend. The ex-dividend date is Thursday, November 20th. This represents a $1.08 dividend on an annualized basis and a yield of 9.1%. Mach Natural Resources’s dividend payout ratio (DPR) is 112.50%.

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.