Mach Natural Resources LP (NYSE:MNR) Given Average Rating of “Moderate Buy” by Brokerages

Mach Natural Resources LP (NYSE:MNR) has been assigned an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $17.60.

MNR has been the topic of a number of recent analyst reports. Zacks Research lowered shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, July 13th. Citigroup reaffirmed an “outperform” rating on shares of Mach Natural Resources in a research report on Monday. Wall Street Zen lowered shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Northland Securities set a $17.00 target price on Mach Natural Resources in a research note on Monday. Finally, Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th.

Mach Natural Resources Price Performance

MNR opened at $13.19 on Wednesday. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.02. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.36 and a beta of -0.31. The firm’s fifty day moving average price is $13.03 and its two-hundred day moving average price is $13.17.

Mach Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be given a $0.36 dividend. The ex-dividend date of this dividend is Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 10.9%. Mach Natural Resources’s payout ratio is currently 433.90%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. ING Groep NV raised its stake in shares of Mach Natural Resources by 23.1% during the 4th quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock worth $11,239,000 after purchasing an additional 191,000 shares during the period. GatePass Capital LLC purchased a new position in shares of Mach Natural Resources in the 4th quarter worth about $373,000. Chicago Partners Investment Group LLC grew its position in Mach Natural Resources by 2.1% during the fourth quarter. Chicago Partners Investment Group LLC now owns 248,106 shares of the company’s stock valued at $2,836,000 after buying an additional 5,086 shares during the period. Novem Group grew its position in Mach Natural Resources by 29.4% during the fourth quarter. Novem Group now owns 22,000 shares of the company’s stock valued at $243,000 after buying an additional 5,000 shares during the period. Finally, Royal Bank of Canada increased its holdings in Mach Natural Resources by 42.8% during the first 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 own 78.36% of the company’s stock.

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.