Mach Natural Resources (NYSE:MNR) Research Coverage Started at Stifel Nicolaus

Stifel Nicolaus started coverage on shares of Mach Natural Resources (NYSE:MNR) in a research report report published on Thursday morning, MarketBeat reports. The brokerage issued a buy rating and a $15.00 price objective on the stock.

A number of other analysts also recently issued reports on MNR. Zacks Research raised Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a report on Saturday, August 15th. Stephens set a $20.00 price target on shares of Mach Natural Resources in a research report on Monday, July 13th. Northland Securities set a $17.00 price target on shares of Mach Natural Resources in a research note on Monday, August 10th. Finally, Weiss Ratings raised Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $16.83.

Mach Natural Resources Stock Performance

Shares of MNR opened at $12.57 on Thursday. 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 firm has a market capitalization of $2.10 billion, a P/E ratio of 21.31 and a beta of -0.32. The firm has a 50-day moving average price of $12.93 and a 200 day moving average price of $13.22. Mach Natural Resources has a 12-month low of $10.46 and a 12-month high of $15.02.

Mach Natural Resources Cuts Dividend

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

Institutional Trading of Mach Natural Resources

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC boosted its position in shares of Mach Natural Resources by 94.7% during the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after acquiring an additional 19,997 shares in the last quarter. Wedbush Securities Inc. raised 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 acquiring an additional 913 shares in the last quarter. Pin Oak Investment Advisors Inc. purchased a new stake in Mach Natural Resources during the second quarter worth approximately $3,064,000. Avior Wealth Management LLC purchased a new stake in Mach Natural Resources during the second quarter worth approximately $253,000. Finally, Royal Bank of Canada boosted its holdings in Mach Natural Resources by 42.8% in the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after purchasing an additional 4,164 shares in the last quarter. 78.36% of the stock is owned by hedge funds and other institutional investors.

About Mach Natural Resources

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.