North Star Asset Management Inc. Purchases Shares of 87,849 Mach Natural Resources LP $MNR

North Star Asset Management Inc. acquired a new position in Mach Natural Resources LP (NYSE:MNR) during the second quarter, HoldingsChannel reports. The institutional investor acquired 87,849 shares of the company’s stock, valued at approximately $2,172,000.

Several other hedge funds have also modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in shares of Mach Natural Resources during the 4th quarter valued at approximately $31,000. Cooksen Wealth LLC increased its position in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after purchasing an additional 1,230 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Mach Natural Resources in the fourth quarter worth $42,000. Kestra Advisory Services LLC purchased a new stake in Mach Natural Resources during the fourth quarter valued at $44,000. Finally, CENTRAL TRUST Co raised its stake in Mach Natural Resources by 384.7% during the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock valued at $70,000 after purchasing an additional 3,962 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Wall Street Zen upgraded shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Northland Securities set a $17.00 target price on shares of Mach Natural Resources in a research report on Monday, August 10th. Stephens set a $20.00 price target on shares of Mach Natural Resources in a report on Monday, July 13th. Finally, Weiss Ratings upgraded Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $17.60.

Mach Natural Resources Stock Performance

NYSE MNR opened at $12.54 on Friday. The business’s 50 day moving average price is $12.93 and its 200-day moving average price is $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 market cap of $2.09 billion, a P/E ratio of 21.26 and a beta of -0.31. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 11.5%. The ex-dividend date of this dividend is Monday, August 17th. Mach Natural Resources’s payout ratio is presently 244.07%.

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.