Mach Natural Resources LP (NYSE:MNR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average recommendation of “Moderate Buy” from the eight research firms that are covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $18.50.

A number of research firms have recently weighed in on MNR. Wall Street Zen downgraded Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Zacks Research downgraded Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th. Truist Financial assumed coverage on Mach Natural Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $14.00 price objective on the stock. Finally, Weiss Ratings downgraded Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th.

Mach Natural Resources Stock Performance

MNR stock opened at $13.41 on Friday. The business’s fifty day moving average is $13.62 and its 200-day moving average is $12.62. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.26 billion, a P/E ratio of 17.42 and a beta of -0.32. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.60.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $286.00 million for the quarter, compared to the consensus estimate of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. Equities research analysts forecast that Mach Natural Resources will post 1.54 EPS for the current year.

Mach Natural Resources Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 21st will be issued a dividend of $0.64 per share. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, May 21st. This represents a $2.56 dividend on an annualized basis and a yield of 19.1%. Mach Natural Resources’s dividend payout ratio is currently 332.47%.

Insiders Place Their Bets

In other news, insider Tom L. Ward bought 153,256 shares of the stock in a transaction on Monday, April 13th. The stock was purchased at an average price of $13.05 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,295,039 shares in the company, valued at approximately $173,500,258.95. This trade represents a 1.17% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director William Wallace Mcmullen bought 3,570 shares of the stock in a transaction on Thursday, March 19th. The shares were purchased at an average price of $14.00 per share, with a total value of $49,980.00. Following the acquisition, the director owned 74,854,202 shares in the company, valued at approximately $1,047,958,828. This represents a 0.00% increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders bought 163,541 shares of company stock worth $2,142,861. Corporate insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Large investors have recently added to or reduced their stakes in the company. Cooksen Wealth LLC increased its holdings in Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after purchasing an additional 1,230 shares in the last quarter. Hilton Head Capital Partners LLC bought a new position in Mach Natural Resources during the 4th quarter worth about $31,000. Gunpowder Capital Management LLC dba Oliver Wealth Management bought a new position in Mach Natural Resources during the 4th quarter worth about $42,000. Kestra Advisory Services LLC bought a new position in Mach Natural Resources during the 4th quarter worth about $44,000. Finally, CENTRAL TRUST Co increased its holdings in Mach Natural Resources by 384.7% during the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after purchasing an additional 3,962 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Company 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. The company was incorporated in 2023 and is headquartered in Oklahoma City, Oklahoma.