ING Groep NV Makes New $412,000 Investment in Mach Natural Resources LP (NYSE:MNR)

ING Groep NV bought a new position in Mach Natural Resources LP (NYSE:MNR) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 24,000 shares of the company’s stock, valued at approximately $412,000.

A number of other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake 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 worth $206,000 after acquiring an additional 3,000 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Mach Natural Resources by 13.7% during the third quarter. Franklin Resources Inc. now owns 138,800 shares of the company’s stock worth $2,354,000 after acquiring an additional 16,725 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of 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 during the last quarter. Finally, Chicago Partners Investment Group LLC grew its stake in shares of Mach Natural Resources by 7.7% during the fourth quarter. Chicago Partners Investment Group LLC now owns 242,118 shares of the company’s stock worth $4,145,000 after acquiring an additional 17,215 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors.

Mach Natural Resources Trading Down 0.4 %

Shares of NYSE MNR opened at $15.96 on Tuesday. The firm has a 50 day moving average price of $16.99. Mach Natural Resources LP has a 52 week low of $14.46 and a 52 week 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 company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 27th will be given a $0.50 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.00 dividend on an annualized basis and a yield of 12.53%.

Insider Activity at Mach Natural Resources

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

Analyst Upgrades and Downgrades

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

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.