Mach Natural Resources LP (NYSE:MNR) Receives $17.60 Average Price Target from Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have been given an average rating of “Moderate Buy” by the nine ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $17.60.

MNR has been the subject of several analyst reports. Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday. Raymond James Financial upped their price target on shares of Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, July 14th. Zacks Research upgraded shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 11th. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Finally, Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research report on Monday, July 13th.

Hedge Funds Weigh In On Mach Natural Resources

Institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new stake in shares of Mach Natural Resources in the fourth quarter valued at approximately $31,000. Cooksen Wealth LLC increased its holdings in shares of Mach Natural Resources by 87.5% during the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock worth $38,000 after acquiring an additional 1,230 shares during the last quarter. Gunpowder Capital Management LLC dba Oliver Wealth Management acquired a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $42,000. Kestra Advisory Services LLC acquired a new position in shares of Mach Natural Resources during the 4th quarter worth approximately $44,000. Finally, CENTRAL TRUST Co raised its stake in Mach Natural Resources by 384.7% in the 1st quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock valued at $70,000 after acquiring an additional 3,962 shares during the period. Institutional investors and hedge funds own 78.36% of the company’s stock.

Mach Natural Resources Stock Down 0.8%

NYSE:MNR opened at $12.59 on Wednesday. Mach Natural Resources has a twelve month low of $10.46 and a twelve month high of $15.02. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 21.34 and a beta of -0.31. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The stock’s 50 day moving average price is $12.97 and its two-hundred day moving average price is $13.23.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a dividend of $0.36 per share. The ex-dividend date is Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a yield of 11.4%. Mach Natural Resources’s dividend payout ratio (DPR) is presently 244.07%.

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.