Mach Natural Resources (NYSE:MNR) Stock Rating Raised to “Hold” at Zacks Research

Mach Natural Resources (NYSE:MNR) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other brokerages also recently commented on MNR. Citigroup reissued an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Capital One Financial started coverage on shares of Mach Natural Resources in a research note on Friday, September 4th. They issued an “overweight” rating and a $16.00 price objective on the stock. Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Weiss Ratings cut shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Finally, Stephens set a $20.00 price objective on Mach Natural Resources in a research note on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Mach Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Mach Natural Resources Trading Down 0.3%

NYSE MNR opened at $10.76 on Monday. 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 has a one year low of $10.15 and a one year high of $15.02. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 5.42 and a beta of -0.22. The firm has a 50 day simple moving average of $11.63 and a 200-day simple moving average of $12.68.

Insider Transactions at Mach Natural Resources

In related news, Director William McMullen acquired 12,390 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $11.30 per share, with a total value of $140,007.00. Following the purchase, the director directly owned 74,872,307 shares of the company’s stock, valued at approximately $846,057,069.10. This represents a 0.02% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Tom L. Ward purchased 172,413 shares of the company’s stock in a transaction on Monday, September 14th. The shares were purchased at an average price of $11.60 per share, with a total value of $1,999,990.80. Following the completion of the purchase, the insider directly owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. The trade was a 1.30% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 206,927 shares of company stock worth $2,388,893. 87.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently made changes to their positions in the business. Pin Oak Investment Advisors Inc. purchased a new position in Mach Natural Resources in the second quarter valued at about $3,064,000. Avior Wealth Management LLC purchased a new stake in Mach Natural Resources during the 2nd quarter worth approximately $253,000. Tidal Investments LLC boosted its stake in Mach Natural Resources by 94.7% during the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after acquiring an additional 19,997 shares during the last quarter. Novem Group lifted its holdings in Mach Natural Resources by 25.0% during the 3rd quarter. Novem Group now owns 30,000 shares of the company’s stock worth $307,000 after buying an additional 6,000 shares during the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Mach Natural Resources by 42.8% in the 1st quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock worth $194,000 after buying an additional 4,164 shares during the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

About Mach Natural Resources

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.