Chung Wu Investment Group LLC Purchases New Shares in Mach Natural Resources LP $MNR

Chung Wu Investment Group LLC acquired a new position in shares of Mach Natural Resources LP (NYSE:MNR) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 2,600 shares of the company’s stock, valued at approximately $38,000.

Several other institutional investors and hedge funds have also bought and sold shares of MNR. Parallel Advisors LLC lifted its position in Mach Natural Resources by 100.0% during the first quarter. Parallel Advisors LLC now owns 2,000 shares of the company’s stock worth $31,000 after purchasing an additional 1,000 shares during the period. Janney Montgomery Scott LLC bought a new stake in Mach Natural Resources during the first quarter worth about $191,000. Avior Wealth Management LLC lifted its position in Mach Natural Resources by 116.7% during the first quarter. Avior Wealth Management LLC now owns 26,000 shares of the company’s stock worth $404,000 after purchasing an additional 14,000 shares during the period. Novem Group lifted its position in Mach Natural Resources by 14.3% during the first quarter. Novem Group now owns 16,000 shares of the company’s stock worth $249,000 after purchasing an additional 2,000 shares during the period. Finally, Strategic Financial Concepts LLC lifted its position in Mach Natural Resources by 8.3% during the first quarter. Strategic Financial Concepts LLC now owns 12,312 shares of the company’s stock worth $191,000 after purchasing an additional 948 shares during the period. Institutional investors own 78.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. KeyCorp assumed coverage on shares of Mach Natural Resources in a research report on Wednesday, August 27th. They set an “overweight” rating for the company. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mach Natural Resources in a research report on Saturday, September 27th. William Blair began coverage on shares of Mach Natural Resources in a report on Monday, August 25th. They issued an “outperform” rating for the company. Zacks Research raised shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Friday, September 12th. Finally, Wall Street Zen cut shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen acquired 3,085 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was acquired at an average price of $14.39 per share, for a total transaction of $44,393.15. Following the acquisition, the director directly owned 74,816,024 shares in the company, valued at $1,076,602,585.36. This represents a 0.00% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 87.80% of the stock is currently owned by company insiders.

Mach Natural Resources Stock Up 0.3%

MNR stock opened at $13.20 on Tuesday. The stock has a market capitalization of $1.56 billion, a P/E ratio of 6.80 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. Mach Natural Resources LP has a 12 month low of $12.40 and a 12 month high of $19.00. The firm has a 50-day moving average price of $13.95 and a 200-day moving average price of $14.11.

Mach Natural Resources (NYSE:MNR) last posted its earnings results on Thursday, August 7th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.23. The firm had revenue of $288.52 million during the quarter, compared to analysts’ expectations of $237.56 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 anticipate that Mach Natural Resources LP will post 1.95 EPS for the current fiscal year.

Mach Natural Resources Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 4th. Investors of record on Thursday, August 21st were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.5%. The ex-dividend date was Thursday, August 21st. Mach Natural Resources’s dividend payout ratio (DPR) is 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.