Mach Natural Resources LP (NYSE:MNR) Stock Has Average Target Price of $16.67

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average rating of “Moderate Buy” from the eight brokerages that are covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.67.

A number of analysts have weighed in on the company. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, October 19th. Weiss Ratings cut Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Wall Street Zen upgraded shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Raymond James Financial reduced their target price on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, September 29th. Finally, Capital One Financial initiated coverage on shares of Mach Natural Resources in a report on Friday, September 4th. They issued an “overweight” rating and a $16.00 target price on the stock.

Mach Natural Resources Trading Down 0.3%

MNR stock opened at $10.59 on Monday. Mach Natural Resources has a 1-year low of $10.15 and a 1-year high of $15.02. The company has a current ratio of 0.88, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The business’s 50 day moving average is $11.37 and its 200-day moving average is $12.63. The firm has a market cap of $1.77 billion, a P/E ratio of 17.94 and a beta of -0.22.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 13.6%. This is a decrease from Mach Natural Resources’s previous quarterly dividend of $0.64. Mach Natural Resources’s payout ratio is 244.07%.

Insider Transactions at Mach Natural Resources

In other news, insider Tom Ward acquired 172,413 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were purchased at an average cost of $11.60 per share, with a total value of $1,999,990.80. Following the completion of the purchase, the insider owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William McMullen acquired 22,124 shares of the company’s stock in a transaction dated Tuesday, September 15th. The shares were purchased at an average cost of $11.25 per share, with a total value of $248,895.00. Following the acquisition, the director owned 22,124 shares of the company’s stock, valued at approximately $248,895. This represents a ? increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 206,927 shares of company stock worth $2,388,893. Company insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

Hedge funds have recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources during the 2nd quarter worth about $3,064,000. Tidal Investments LLC lifted its holdings in Mach Natural Resources by 94.7% in the second quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after buying an additional 19,997 shares during the period. Wedbush Securities Inc. boosted its stake in Mach Natural Resources by 3.2% in the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after acquiring an additional 913 shares during the last quarter. Novem Group boosted its stake in Mach Natural Resources by 25.0% in the third quarter. Novem Group now owns 30,000 shares of the company’s stock valued at $307,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Avior Wealth Management LLC acquired a new stake in Mach Natural Resources during the 2nd quarter worth $253,000. Institutional investors 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.