Pin Oak Investment Advisors Inc. Purchases Shares of 242,399 Mach Natural Resources LP $MNR

Pin Oak Investment Advisors Inc. purchased a new stake in shares of Mach Natural Resources LP (NYSE:MNR) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 242,399 shares of the company’s stock, valued at approximately $3,064,000. Mach Natural Resources makes up about 1.6% of Pin Oak Investment Advisors Inc.’s investment portfolio, making the stock its 12th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in MNR. Cooksen Wealth LLC grew its holdings in Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after buying an additional 1,230 shares in the last quarter. Hilton Head Capital Partners LLC bought a new stake in Mach Natural Resources during the 4th quarter valued at $31,000. Stifel Financial Corp raised its stake in Mach Natural Resources by 1.5% during the 4th quarter. Stifel Financial Corp now owns 231,999 shares of the company’s stock valued at $2,561,000 after acquiring an additional 3,472 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new stake in Mach Natural Resources during the 4th quarter valued at $42,000. Finally, CENTRAL TRUST Co boosted its position in Mach Natural Resources by 384.7% during the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after acquiring an additional 3,962 shares during the period. 78.36% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNR has been the subject of several recent analyst reports. Raymond James Financial increased their price target on Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, July 14th. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a research note on Monday, August 10th. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Weiss Ratings raised shares of Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, Stephens set a $20.00 price target on shares of Mach Natural Resources in a research report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.60.

Mach Natural Resources Stock Performance

MNR opened at $12.51 on Friday. The business has a 50 day moving average price of $12.93 and a two-hundred day moving average price of $13.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.88 and a quick ratio of 0.76. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 21.20 and a beta of -0.31. Mach Natural Resources LP has a 1-year low of $10.46 and a 1-year high of $15.02.

Mach Natural Resources Cuts Dividend

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

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.