American Century Companies Inc. Grows Holdings in Mach Natural Resources LP $MNR

American Century Companies Inc. increased its position in Mach Natural Resources LP (NYSE:MNR) by 4.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,578,929 shares of the company’s stock after purchasing an additional 100,574 shares during the period. American Century Companies Inc. owned 2.18% of Mach Natural Resources worth $37,240,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. raised its holdings in shares of Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after buying an additional 2,084,511 shares during the last quarter. Franklin Resources Inc. increased its stake in Mach Natural Resources by 115.6% in the 2nd quarter. Franklin Resources Inc. now owns 391,720 shares of the company’s stock worth $5,656,000 after purchasing an additional 209,993 shares in the last quarter. Penn Capital Management Company LLC purchased a new position in shares of Mach Natural Resources in the first quarter worth approximately $519,000. Raymond James Financial Inc. raised its stake in Mach Natural Resources by 8.6% during the 1st quarter. Raymond James Financial Inc. now owns 324,291 shares of the company’s stock valued at $5,043,000 after purchasing an additional 25,778 shares during the period. Finally, XTX Topco Ltd raised its position in Mach Natural Resources by 131.5% during the first quarter. XTX Topco Ltd now owns 30,107 shares of the company’s stock valued at $468,000 after buying an additional 17,104 shares during the period. Institutional investors own 78.36% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on MNR shares. Northland Capmk raised Mach Natural Resources to a “strong-buy” rating in a research note on Monday, October 13th. Weiss Ratings reissued a “sell (d+)” rating on shares of Mach Natural Resources in a research report on Tuesday. Northland Securities set a $20.00 target price on Mach Natural Resources in a research report on Monday, November 10th. Zacks Research lowered shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a report on Monday, October 13th. Finally, William Blair initiated coverage on Mach Natural Resources in a report on Monday, August 25th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.25.

Mach Natural Resources Stock Up 1.3%

Shares of MNR stock opened at $11.80 on Friday. The firm has a fifty day moving average of $12.30 and a 200-day moving average of $13.59. Mach Natural Resources LP has a 12-month low of $10.93 and a 12-month high of $19.00. The company has a market capitalization of $1.99 billion, a price-to-earnings ratio of 6.08 and a beta of -0.11. The company has a quick ratio of 0.69, a current ratio of 0.79 and a debt-to-equity ratio of 0.41.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.10. The company had revenue of $272.56 million during the quarter, compared to analysts’ expectations 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, equities research analysts predict that Mach Natural Resources LP will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 9.2%. The ex-dividend date of this dividend is Thursday, November 20th. Mach Natural Resources’s dividend payout ratio is currently 112.50%.

Mach Natural Resources 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.