Pin Oak Investment Advisors Inc. Takes $3.35 Million Position in Mach Natural Resources LP (NYSE:MNR)

Key Points

• Pin Oak Investment Advisors Inc. has invested approximately $3.35 million in Mach Natural Resources LP, acquiring 211,244 shares and making it the firm's 9th largest holding.
• Mach Natural Resources recently increased its quarterly dividend to $0.79 per share, resulting in an annualized dividend yield of 20.95%.
• The company reported earnings per share of $0.68 for the last quarter, slightly missing analysts' estimates, and had revenue of $227 million against expectations of $259 million.

Pin Oak Investment Advisors Inc. acquired a new stake in Mach Natural Resources LP (NYSE:MNR - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 211,244 shares of the company's stock, valued at approximately $3,349,000. Mach Natural Resources accounts for about 2.6% of Pin Oak Investment Advisors Inc.'s holdings, making the stock its 9th biggest holding. Pin Oak Investment Advisors Inc. owned 0.18% of Mach Natural Resources as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MNR. Sei Investments Co. grew its position in Mach Natural Resources by 8.4% in the 4th quarter. Sei Investments Co. now owns 271,608 shares of the company's stock valued at $4,666,000 after purchasing an additional 21,101 shares during the period. Zuckerman Investment Group LLC grew its position in Mach Natural Resources by 34.6% in the 4th quarter. Zuckerman Investment Group LLC now owns 105,000 shares of the company's stock valued at $1,843,000 after purchasing an additional 27,000 shares during the period. Stephens Inc. AR grew its position in Mach Natural Resources by 81.5% in the 1st quarter. Stephens Inc. AR now owns 143,410 shares of the company's stock valued at $2,230,000 after purchasing an additional 64,410 shares during the period. Janney Montgomery Scott LLC acquired a new stake in Mach Natural Resources in the 1st quarter valued at $191,000. Finally, Raymond James Financial Inc. acquired a new stake in Mach Natural Resources in the 4th quarter valued at $5,128,000. Institutional investors and hedge funds own 78.36% of the company's stock.

Insiders Place Their Bets

In other Mach Natural Resources news, Director William Wallace Mcmullen bought 144,900 shares of the business's stock in a transaction on Monday, June 16th. The stock was purchased at an average price of $14.96 per share, for a total transaction of $2,167,704.00. Following the completion of the transaction, the director directly owned 74,812,939 shares of the company's stock, valued at $1,119,201,567.44. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought a total of 525,529 shares of company stock worth $7,588,638 in the last three months. 87.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on MNR. Wall Street Zen cut Mach Natural Resources from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Raymond James Financial restated a "strong-buy" rating on shares of Mach Natural Resources in a research note on Monday, July 14th.

Mach Natural Resources Stock Performance

Shares of NYSE MNR traded down $0.30 during mid-day trading on Thursday, reaching $14.95. 184,580 shares of the company's stock were exchanged, compared to its average volume of 326,771. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.34 and a beta of -0.07. Mach Natural Resources LP has a 52 week low of $12.40 and a 52 week high of $20.94. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.69 and a quick ratio of 0.61. The firm has a 50-day moving average price of $14.41 and a two-hundred day moving average price of $14.88.

Mach Natural Resources (NYSE:MNR - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.01). The firm had revenue of $227.00 million during the quarter, compared to analysts' expectations of $259.09 million. Mach Natural Resources had a return on equity of 20.39% and a net margin of 16.65%. Analysts predict that Mach Natural Resources LP will post 1.95 EPS for the current year.

Mach Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 22nd were given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 21.14%. The ex-dividend date was Thursday, May 22nd. This is a positive change from Mach Natural Resources's previous quarterly dividend of $0.50. Mach Natural Resources's dividend payout ratio (DPR) is currently 197.50%.

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.