Zacks Research Downgrades Mach Natural Resources (NYSE:MNR) to Hold

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 to investors on Monday,Zacks.com reports.

MNR has been the subject of a number of other reports. Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Wall Street Zen cut Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Truist Financial initiated coverage on 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. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $18.50.

Mach Natural Resources Trading Down 2.5%

NYSE:MNR opened at $13.70 on Monday. The firm has a market cap of $2.30 billion, a PE ratio of 17.79 and a beta of -0.33. The stock has a fifty day moving average price of $13.65 and a 200 day moving average price of $12.58. Mach Natural Resources has a 12-month low of $10.46 and a 12-month high of $15.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.61.

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

Insider Buying and Selling at Mach Natural Resources

In other Mach Natural Resources news, insider Tom L. Ward purchased 153,256 shares of the business’s stock in a transaction on Monday, April 13th. The shares were bought at an average cost of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the purchase, the insider directly owned 13,295,039 shares in the company, valued at approximately $173,500,258.95. This represents a 1.17% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the firm’s stock in a transaction 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 completion of the sale, the insider owned 4,259,110 shares in the company, valued at approximately $54,559,199.10. This represents a 56.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired a total of 163,541 shares of company stock worth $2,142,861 over the last ninety days. Corporate insiders own 87.80% of the company’s stock.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently made changes to their positions in MNR. Hilton Head Capital Partners LLC acquired a new stake in shares of Mach Natural Resources during the fourth quarter worth about $31,000. Cooksen Wealth LLC boosted its holdings 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 purchased a new stake in Mach Natural Resources in the 4th quarter valued at approximately $42,000. Kestra Advisory Services LLC purchased a new stake in shares of Mach Natural Resources during the 4th quarter worth approximately $44,000. Finally, CENTRAL TRUST Co boosted its stake in shares of 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 acquiring an additional 3,962 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

About Mach Natural Resources

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.