Mach Natural Resources (NYSE:MNR) Upgraded at Zacks Research

Zacks Research upgraded shares of Mach Natural Resources (NYSE:MNR) from a strong sell rating to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities research analysts also recently weighed in on MNR. Weiss Ratings raised Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday. Stifel Nicolaus cut their target price on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Mach Natural Resources has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Mach Natural Resources Stock Up 2.1%

Mach Natural Resources stock opened at $13.77 on Monday. The company has a market capitalization of $2.32 billion, a P/E ratio of 12.30 and a beta of -0.24. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.05. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.91. The stock has a 50-day simple moving average of $12.42 and a 200-day simple moving average of $12.35.

Mach Natural Resources (NYSE:MNR) last released its quarterly earnings results on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.17. The firm had revenue of $387.54 million for the quarter, compared to the consensus estimate of $357.31 million. Mach Natural Resources had a return on equity of 16.91% and a net margin of 12.16%. Equities research analysts expect that Mach Natural Resources will post 1.95 earnings per share for the current year.

Mach Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Shareholders of record on Thursday, February 26th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 15.4%. The ex-dividend date of this dividend was Thursday, February 26th. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s payout ratio is 189.29%.

Institutional Investors Weigh In On Mach Natural Resources

Several hedge funds have recently modified their holdings of MNR. CWM LLC purchased a new position in Mach Natural Resources in the 3rd quarter valued at $27,000. Hilton Head Capital Partners LLC purchased a new position in Mach Natural Resources in the 4th quarter valued at approximately $31,000. Cooksen Wealth LLC increased its stake in Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after purchasing an additional 1,230 shares in the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in Mach Natural Resources during the fourth quarter worth $42,000. Finally, Kestra Advisory Services LLC purchased a new stake in Mach Natural Resources during the fourth quarter worth $44,000. 78.36% of the stock is 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.