Parkside Financial Bank & Trust Buys New Holdings in Mach Natural Resources LP (NYSE:MNR)

Parkside Financial Bank & Trust purchased a new position in shares of Mach Natural Resources LP (NYSE:MNR) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently bought and sold shares of the business. Avior Wealth Management LLC grew its stake in shares of Mach Natural Resources by 33.3% in the 4th quarter. Avior Wealth Management LLC now owns 12,000 shares of the company’s stock valued at $206,000 after purchasing an additional 3,000 shares during the period. Franklin Resources Inc. lifted its position 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 during the period. Chicago Partners Investment Group LLC boosted its stake in Mach Natural Resources by 7.7% in the 4th 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 in the last quarter. ING Groep NV bought a new stake in Mach Natural Resources in the fourth quarter valued at $412,000. Finally, Strategic Financial Concepts LLC raised its stake in 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 in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MNR shares. Stifel Nicolaus boosted their target price on shares of Mach Natural Resources from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Raymond James restated a “strong-buy” rating and issued a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th. Finally, Truist Financial upped their price objective on shares of Mach Natural Resources from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 13th.

Insider Buying and Selling

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the company’s stock in a transaction that occurred on Friday, February 7th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the transaction, the director now directly owns 74,287,410 shares of the company’s stock, valued at approximately $1,151,454,855. This trade represents a 7.47 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 87.80% of the stock is owned by corporate insiders.

Mach Natural Resources Stock Performance

Mach Natural Resources stock opened at $14.46 on Tuesday. The business has a fifty day simple moving average of $16.85. The company has a current ratio of 1.24, a quick ratio of 1.16 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 5.78 and a beta of -0.79. Mach Natural Resources LP has a 52 week low of $14.38 and a 52 week high of $21.19.

Mach Natural Resources Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.00 annualized dividend and a yield of 13.83%. Mach Natural Resources’s dividend payout ratio (DPR) is 80.00%.

About Mach Natural Resources

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.