ING Groep NV Increases Position in Mach Natural Resources LP $MNR

ING Groep NV lifted its position in Mach Natural Resources LP (NYSE:MNR) by 23.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,018,000 shares of the company’s stock after buying an additional 191,000 shares during the quarter. ING Groep NV’s holdings in Mach Natural Resources were worth $11,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Kayne Anderson Capital Advisors LP purchased a new stake in Mach Natural Resources during the third quarter worth about $252,892,000. Goldman Sachs Group Inc. increased its stake in Mach Natural Resources by 120.5% during the first 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. CIBC Bancorp USA Inc. purchased a new stake in Mach Natural Resources during the third quarter worth about $7,926,000. First Trust Advisors LP purchased a new stake in Mach Natural Resources during the second quarter worth about $7,630,000. Finally, Clear Street Group Inc. purchased a new stake in Mach Natural Resources during the third quarter worth about $5,638,000. Hedge funds and other institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Stock Performance

Shares of MNR stock opened at $13.45 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61. The firm has a fifty day moving average price of $13.59 and a 200 day moving average price of $12.67. The company has a market cap of $2.26 billion, a P/E ratio of 17.47 and a beta of -0.32. Mach Natural Resources LP has a 12 month low of $10.46 and a 12 month high of $15.60.

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

Mach Natural Resources Increases Dividend

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

Insider Buying and Selling at Mach Natural Resources

In other Mach Natural Resources news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the company’s stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total value of $71,193,867.99. Following the completion of the transaction, the insider owned 4,259,110 shares in the company, valued at $54,559,199.10. This represents a 56.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Tom L. Ward acquired 153,256 shares of the firm’s stock in a transaction on Monday, April 13th. The stock was bought at an average price of $13.05 per share, with a total value of $1,999,990.80. Following the purchase, the insider directly owned 13,295,039 shares of the company’s stock, valued at $173,500,258.95. This represents a 1.17% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased 163,541 shares of company stock worth $2,142,861 over the last 90 days. Corporate insiders own 87.80% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Zacks Research downgraded shares of Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Truist Financial assumed coverage on shares of Mach Natural Resources in a research note on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price target for the company. Finally, Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

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