ING Groep NV Raises Holdings in Mach Natural Resources LP $MNR

ING Groep NV lifted its stake in Mach Natural Resources LP (NYSE:MNR) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,018,000 shares of the company’s stock after buying an additional 191,000 shares during the quarter. ING Groep NV owned approximately 0.60% of Mach Natural Resources worth $11,239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. GatePass Capital LLC purchased a new stake in shares of Mach Natural Resources in the fourth quarter worth about $373,000. Chicago Partners Investment Group LLC grew its position in shares of Mach Natural Resources by 2.1% during the 4th quarter. Chicago Partners Investment Group LLC now owns 248,106 shares of the company’s stock valued at $2,836,000 after acquiring an additional 5,086 shares during the period. Novem Group grew its position in shares of Mach Natural Resources by 29.4% during the 4th quarter. Novem Group now owns 22,000 shares of the company’s stock valued at $243,000 after acquiring an additional 5,000 shares during the period. CIBC Bancorp USA Inc. acquired a new stake in shares of Mach Natural Resources during the 3rd quarter valued at about $7,926,000. Finally, Pin Oak Investment Advisors Inc. grew its position in shares of Mach Natural Resources by 8.8% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 236,702 shares of the company’s stock valued at $3,120,000 after acquiring an additional 19,203 shares during the period. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Zacks Research cut Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings cut Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Wall Street Zen cut Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Truist Financial started coverage on Mach Natural Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Mach Natural Resources has a consensus rating of “Moderate Buy” and an average target price of $18.50.

Mach Natural Resources Trading Up 0.0%

MNR opened at $13.45 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73. The company’s 50 day simple moving average is $13.59 and its two-hundred day simple moving average is $12.67. Mach Natural Resources LP has a 1-year low of $10.46 and a 1-year high of $15.60. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 17.47 and a beta of -0.32.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. The business had revenue of $286.00 million for the quarter, compared to analyst estimates of $397.61 million. Analysts expect that Mach Natural Resources LP will post 1.57 EPS for the current fiscal year.

Mach Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 19.0%. The ex-dividend date of this dividend was Thursday, May 21st. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.53. Mach Natural Resources’s dividend payout ratio is presently 332.47%.

Insider Activity

In other news, Director William Wallace Mcmullen purchased 3,215 shares of Mach Natural Resources stock in a transaction dated Monday, March 23rd. The shares were purchased at an average price of $13.63 per share, with a total value of $43,820.45. Following the transaction, the director owned 74,859,917 shares in the company, valued at $1,020,340,668.71. This represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of Mach Natural Resources stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the sale, the insider directly owned 4,259,110 shares in the company, valued at approximately $54,559,199.10. The trade was a 56.61% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have bought 163,541 shares of company stock valued at $2,142,861. 87.80% of the stock is currently owned by company insiders.

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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.