North Star Asset Management Inc. Acquires New Position in Mach Natural Resources LP $MNR

North Star Asset Management Inc. bought a new position in Mach Natural Resources LP (NYSE:MNR) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 87,849 shares of the company’s stock, valued at approximately $2,172,000. North Star Asset Management Inc. owned approximately 0.05% of Mach Natural Resources at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its position in shares of Mach Natural Resources by 120.5% in 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. First Trust Advisors LP bought a new stake in shares of Mach Natural Resources during the 2nd quarter valued at $7,630,000. Jane Street Group LLC bought a new stake in shares of Mach Natural Resources during the 2nd quarter valued at $1,931,000. Cooksen Wealth LLC lifted its stake in shares of Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after buying an additional 1,230 shares in the last quarter. Finally, Osaic Holdings Inc. lifted its stake in shares of Mach Natural Resources by 208.5% during the 2nd quarter. Osaic Holdings Inc. now owns 8,302 shares of the company’s stock valued at $120,000 after buying an additional 5,611 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Stock Performance

MNR opened at $12.54 on Friday. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of 21.26 and a beta of -0.31. The company has a fifty day moving average of $12.93 and a 200 day moving average of $13.26. Mach Natural Resources LP has a fifty-two week low of $10.46 and a fifty-two week high of $15.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend is Monday, August 17th. Mach Natural Resources’s dividend payout ratio is 244.07%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Northland Securities set a $17.00 price target on Mach Natural Resources in a research note on Monday, August 10th. Raymond James Financial boosted their price objective on Mach Natural Resources from $18.00 to $19.00 and gave the company a “strong-buy” rating in a research report on Tuesday, July 14th. Stephens set a $20.00 price objective on Mach Natural Resources in a research note on Monday, July 13th. Weiss Ratings upgraded Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.60.

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