Mach Natural Resources (NYSE:MNR) Rating Lowered to Hold at Zacks Research

Mach Natural Resources (NYSE:MNR) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

A number of other research analysts have also weighed in on MNR. Truist Financial assumed coverage on shares of Mach Natural Resources in a research note on Tuesday, March 24th. They issued a “hold” rating and a $14.00 price target on the stock. 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. Finally, Weiss Ratings lowered shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $18.50.

Mach Natural Resources Stock Down 2.5%

Mach Natural Resources stock opened at $13.70 on Monday. The company’s 50 day simple moving average is $13.65 and its 200 day simple moving average is $12.58. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.60. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 17.79 and a beta of -0.33. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.83 and a quick ratio of 0.73.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.23. Mach Natural Resources had a net margin of 7.46% and a return on equity of 18.46%. The business had revenue of $286.00 million for the quarter, compared to analyst estimates of $397.61 million. As a group, sell-side analysts anticipate that Mach Natural Resources will post 1.54 EPS for the current year.

Insider Activity

In other news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of Mach Natural Resources stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total value of $71,193,867.99. Following the sale, the insider directly owned 4,259,110 shares in the company, valued at $54,559,199.10. This trade represents a 56.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Tom L. Ward acquired 153,256 shares of the stock in a transaction dated Monday, April 13th. The stock was acquired at an average price of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the acquisition, the insider directly owned 13,295,039 shares of the company’s stock, valued at $173,500,258.95. The trade was a 1.17% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have acquired 163,541 shares of company stock worth $2,142,861 over the last ninety days. Insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

A number of institutional investors have recently added to or reduced their stakes in the company. Kayne Anderson Capital Advisors LP acquired a new position in Mach Natural Resources during the third quarter worth $252,892,000. Goldman Sachs Group Inc. increased its holdings in Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after buying an additional 2,084,511 shares during the last quarter. ING Groep NV increased its holdings in Mach Natural Resources by 23.1% during the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock worth $11,239,000 after buying an additional 191,000 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new position in Mach Natural Resources during the third quarter worth $7,926,000. Finally, First Trust Advisors LP increased its holdings in Mach Natural Resources by 19.7% during the fourth quarter. First Trust Advisors LP now owns 539,012 shares of the company’s stock worth $5,951,000 after buying an additional 88,590 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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.