Mach Natural Resources (NYSE:MNR) Hits New 1-Year Low – Time to Sell?

Shares of Mach Natural Resources LP (NYSE:MNR) reached a new 52-week low on Thursday . The company traded as low as $10.46 and last traded at $10.6090, with a volume of 138146 shares trading hands. The stock had previously closed at $10.48.

Analysts Set New Price Targets

MNR has been the topic of a number of analyst reports. Stephens set a $20.00 price objective on Mach Natural Resources in a research note on Monday, July 13th. Stifel Nicolaus started coverage on shares of Mach Natural Resources in a research note on Thursday, September 10th. They issued a “buy” rating and a $15.00 target price for the company. Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Capital One Financial began coverage on shares of Mach Natural Resources in a research report on Friday, September 4th. They set an “overweight” rating and a $16.00 price target on the stock. Finally, Zacks Research cut shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $16.83.

Mach Natural Resources Price Performance

The business has a fifty day moving average of $12.65 and a two-hundred day moving average of $13.11. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of 17.89 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 13.6%. The ex-dividend date was Monday, August 17th. Mach Natural Resources’s payout ratio is currently 244.07%.

Insider Activity

In related news, Director William McMullen bought 22,124 shares of Mach Natural Resources stock in a transaction that occurred on Tuesday, September 15th. The stock was acquired at an average price of $11.25 per share, with a total value of $248,895.00. Following the acquisition, the director owned 22,124 shares of the company’s stock, valued at approximately $248,895. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tom L. Ward purchased 172,413 shares of the stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the completion of the acquisition, the insider owned 13,467,452 shares in the company, valued at approximately $156,222,443.20. This trade represents a 1.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 206,927 shares of company stock worth $2,388,893 over the last three months. Insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Institutional investors have recently made changes to their positions in the company. ING Groep NV increased its stake in shares of 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 purchasing an additional 191,000 shares during the period. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources in the 2nd quarter valued at $3,064,000. Royal Bank of Canada boosted its stake in Mach Natural Resources by 42.8% in the 1st 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 during the period. Tidal Investments LLC grew its holdings in Mach Natural Resources by 94.7% in the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after buying an additional 19,997 shares in the last quarter. Finally, Wedbush Securities Inc. grew its holdings in Mach Natural Resources by 3.2% in the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after buying an additional 913 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Company Profile

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.