Stephens Inc. AR Sells 54,300 Shares of Mach Natural Resources LP (NYSE:MNR)

Stephens Inc. AR lessened its holdings in shares of Mach Natural Resources LP (NYSE:MNR) by 40.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 79,000 shares of the company’s stock after selling 54,300 shares during the quarter. Stephens Inc. AR’s holdings in Mach Natural Resources were worth $1,357,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Strategic Financial Concepts LLC raised its position in shares of Mach Natural Resources by 1,618.0% during the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock worth $3,354,000 after acquiring an additional 183,870 shares during the last quarter. Chicago Partners Investment Group LLC lifted its stake in Mach Natural Resources by 7.7% in the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock valued at $4,145,000 after buying an additional 17,215 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Mach Natural Resources by 13.7% during the 3rd quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after buying an additional 16,725 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in shares of Mach Natural Resources by 33.3% during the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock worth $206,000 after buying an additional 3,000 shares during the period. Institutional investors own 78.36% of the company’s stock.

Insider Activity at Mach Natural Resources

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the stock in a transaction on Friday, February 7th. The shares were acquired at an average price of $15.50 per share, with a total value of $79,999,995.00. Following the completion of the transaction, the director now owns 74,287,410 shares in the company, valued at approximately $1,151,454,855. The trade was a 7.47 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 87.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

MNR has been the topic of a number of research reports. Raymond James reaffirmed a “strong-buy” rating and set a $25.00 target price (up from $23.00) on shares of Mach Natural Resources in a research report on Monday. Stifel Nicolaus increased their price objective on Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Truist Financial lifted their target price on Mach Natural Resources from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, January 13th.

Mach Natural Resources Stock Performance

MNR opened at $15.87 on Thursday. Mach Natural Resources LP has a fifty-two week low of $14.46 and a fifty-two week high of $21.19. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16.

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.