Mach Natural Resources (NYSE:MNR) Director William Wallace Mcmullen Buys 22,124 Shares

Mach Natural Resources LP (NYSE:MNR) Director William McMullen bought 22,124 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average price of $11.25 per share, with a total value of $248,895.00. Following the purchase, the director directly owned 22,124 shares of the company’s stock, valued at approximately $248,895. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

William Wallace Mcmullen also recently made the following trade(s):

• On Tuesday, September 15th, William McMullen purchased 12,390 shares of Mach Natural Resources stock. The stock was bought at an average price of $11.30 per share, for a total transaction of $140,007.00.

Mach Natural Resources Stock Performance

MNR traded up $0.07 on Thursday, hitting $10.96. 1,627,851 shares of the company traded hands, compared to its average volume of 563,799. Mach Natural Resources LP has a 12-month low of $10.46 and a 12-month high of $15.02. The company has a 50 day moving average of $12.86 and a 200-day moving average of $13.18. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $1.83 billion, a PE ratio of 18.58 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.1%. Mach Natural Resources’s payout ratio is presently 244.07%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Zacks Research cut shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday. Stifel Nicolaus assumed coverage on shares of Mach Natural Resources in a research note on Thursday, September 10th. They set a “buy” rating and a $15.00 price target on the stock. Capital One Financial assumed coverage on Mach Natural Resources in a report on Friday, September 4th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, Northland Securities set a $17.00 target price on Mach Natural Resources in a research report on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Mach Natural Resources presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.83.

Institutional Investors Weigh In On Mach Natural Resources

Large investors have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. acquired a new position in Mach Natural Resources during the second quarter worth about $3,064,000. ING Groep NV grew its position in shares of Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after purchasing an additional 191,000 shares during the last quarter. GatePass Capital LLC purchased a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $373,000. Avior Wealth Management LLC acquired a new position in shares of Mach Natural Resources during the 2nd quarter worth approximately $253,000. Finally, Tidal Investments LLC lifted its stake in Mach Natural Resources by 94.7% in the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after buying an additional 19,997 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company’s operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources’ production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.