Franklin Resources Inc. Raises Stock Holdings in Mach Natural Resources LP $MNR

Franklin Resources Inc. lifted its position in shares of Mach Natural Resources LP (NYSE:MNR) by 115.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 391,720 shares of the company’s stock after purchasing an additional 209,993 shares during the period. Franklin Resources Inc. owned 0.33% of Mach Natural Resources worth $5,656,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its position in shares of Mach Natural Resources by 120.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after purchasing an additional 2,084,511 shares during the period. American Century Companies Inc. raised its stake in Mach Natural Resources by 10.9% in the first quarter. American Century Companies Inc. now owns 2,478,355 shares of the company’s stock worth $38,538,000 after buying an additional 244,020 shares in the last quarter. Penn Capital Management Company LLC purchased a new stake in Mach Natural Resources in the first quarter worth about $519,000. Raymond James Financial Inc. boosted its position 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 acquiring an additional 25,778 shares in the last quarter. Finally, XTX Topco Ltd grew its holdings in shares of Mach Natural Resources by 131.5% during the 1st quarter. XTX Topco Ltd now owns 30,107 shares of the company’s stock worth $468,000 after acquiring an additional 17,104 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Analyst Ratings Changes

MNR has been the topic of several research reports. Zacks Research lowered Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, October 13th. William Blair started coverage on Mach Natural Resources in a research report on Monday, August 25th. They set an “outperform” rating for the company. Northland Securities set a $20.00 target price on shares of Mach Natural Resources in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mach Natural Resources in a research note on Tuesday, November 25th. Finally, Northland Capmk raised shares of Mach Natural Resources to a “strong-buy” rating in a research note on Monday, October 13th. Two research 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 stock. Based on data from MarketBeat.com, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

Mach Natural Resources Trading Up 1.3%

Mach Natural Resources stock opened at $11.80 on Monday. 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 business’s fifty day simple moving average is $12.30 and its two-hundred day simple moving average is $13.58. 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 (NYSE:MNR) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.10. The firm had revenue of $272.56 million during the quarter, compared to the consensus estimate of $243.65 million. Mach Natural Resources had a return on equity of 23.23% and a net margin of 20.83%. As a group, equities 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 20th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date is Thursday, November 20th. Mach Natural Resources’s dividend payout ratio (DPR) 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.