Parkside Financial Bank & Trust Makes New $43,000 Investment in Mach Natural Resources LP (NYSE:MNR)

Parkside Financial Bank & Trust purchased a new stake in Mach Natural Resources LP (NYSE:MNR) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,500 shares of the company’s stock, valued at approximately $43,000.

Several other large investors also recently made changes to their positions in MNR. Franklin Resources Inc. lifted its stake in Mach Natural Resources by 13.7% during the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock valued at $2,354,000 after purchasing an additional 16,725 shares during the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Mach Natural Resources by 33.3% during the fourth 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 last quarter. Chicago Partners Investment Group LLC boosted its position in shares of 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 purchasing an additional 17,215 shares during the period. Strategic Financial Concepts LLC increased its stake in Mach Natural Resources by 1,618.0% in the 4th quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock worth $3,354,000 after purchasing an additional 183,870 shares in the last quarter. Finally, ING Groep NV acquired a new stake in Mach Natural Resources during the 4th quarter worth about $412,000. Institutional investors own 78.36% of the company’s stock.

Insider Buying and Selling

In related news, Director William Wallace Mcmullen acquired 5,161,290 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were bought at an average price of $15.50 per share, for a total transaction of $79,999,995.00. Following the acquisition, the director now owns 74,287,410 shares in the company, valued at $1,151,454,855. This trade represents a 7.47 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 87.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MNR has been the subject of a number of recent analyst reports. Truist Financial lifted 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 report on Monday, January 13th. Stifel Nicolaus increased their price target on shares of Mach Natural Resources from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Raymond James restated a “strong-buy” rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a report on Monday, February 10th.

Mach Natural Resources Trading Down 2.6 %

MNR stock opened at $14.46 on Tuesday. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 5.78 and a beta of -0.79. The firm has a fifty day simple moving average of $16.85. Mach Natural Resources LP has a 1 year low of $14.38 and a 1 year high of $21.19. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.16 and a current ratio of 1.24.

Mach Natural Resources Cuts Dividend

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

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.