Mach Natural Resources LP (NYSE:MNR) Receives $17.33 Average Price Target from Brokerages

Mach Natural Resources LP (NYSE:MNR) has been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and two have issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $16.8333.

Several research firms have weighed in on MNR. Citigroup restated an “outperform” rating on shares of Mach Natural Resources in a research report on Monday, August 10th. Stephens set a $20.00 target price on shares of Mach Natural Resources in a research report on Monday, July 13th. 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. Northland Securities set a $17.00 price target on shares of Mach Natural Resources in a report on Monday, August 10th. Finally, Stifel Nicolaus began coverage on shares of Mach Natural Resources in a research report on Thursday. They issued a “buy” rating and a $15.00 price objective for the company.

Institutional Investors Weigh In On Mach Natural Resources

A number of institutional investors and hedge funds have recently made changes to their positions in MNR. Wedbush Securities Inc. grew its position in shares of Mach Natural Resources by 3.2% during the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after buying an additional 913 shares during the period. Cooksen Wealth LLC lifted its holdings in Mach Natural Resources by 87.5% in the second quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after buying an additional 1,230 shares during the period. Hilton Head Capital Partners LLC acquired a new position in Mach Natural Resources in the fourth quarter valued at approximately $31,000. Stifel Financial Corp boosted its stake in Mach Natural Resources by 1.5% in the fourth 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 during the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Mach Natural Resources in the fourth quarter valued at approximately $42,000. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Stock Performance

Mach Natural Resources stock opened at $12.57 on Friday. The stock has a 50-day simple moving average of $12.93 and a 200 day simple moving average of $13.22. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. Mach Natural Resources has a 12-month low of $10.46 and a 12-month high of $15.02. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of 21.31 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 11.5%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s dividend payout ratio (DPR) is 244.07%.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company’s operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources’ production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.