Parallel Advisors LLC Has $31,000 Stock Position in Mach Natural Resources LP (NYSE:MNR)

Parallel Advisors LLC increased its position in shares of Mach Natural Resources LP (NYSE:MNR) by 100.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,000 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Parallel Advisors LLC’s holdings in Mach Natural Resources were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its position in shares of Mach Natural Resources by 1,618.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 195,234 shares of the company’s stock valued at $3,354,000 after purchasing an additional 183,870 shares during the period. ING Groep NV purchased a new stake in shares of Mach Natural Resources in the 4th quarter valued at $412,000. Parkside Financial Bank & Trust purchased a new stake in Mach Natural Resources during the 4th quarter valued at $43,000. Raymond James Financial Inc. purchased a new stake in Mach Natural Resources during the 4th quarter valued at $5,128,000. Finally, Hollencrest Capital Management bought a new position in Mach Natural Resources in the 4th quarter worth $34,000. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Raymond James reissued a “strong-buy” rating and set a $25.00 price target (up from $23.00) on shares of Mach Natural Resources in a research report on Monday, February 10th.

Mach Natural Resources Stock Up 1.3%

Shares of MNR stock opened at $13.44 on Tuesday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.24 and a quick ratio of 1.16. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 8.40 and a beta of -0.17. The business has a 50 day moving average of $13.61. Mach Natural Resources LP has a 52 week low of $12.40 and a 52 week high of $20.94.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.01). Mach Natural Resources had a return on equity of 23.58% and a net margin of 25.17%. The business had revenue of $227.00 million during the quarter, compared to analysts’ expectations of $259.09 million. Analysts anticipate that Mach Natural Resources LP will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 22nd were issued a $0.79 dividend. This represents a $3.16 annualized dividend and a dividend yield of 23.52%. The ex-dividend date of this dividend was Thursday, May 22nd. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.50. Mach Natural Resources’s payout ratio is 197.50%.

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.