Mach Natural Resources (NYSE:MNR) Sets New 52-Week Low – What’s Next?

Mach Natural Resources LP (NYSE:MNR) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $10.15 and last traded at $10.2240, with a volume of 776095 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Capital One Financial initiated coverage on shares of Mach Natural Resources in a report on Friday, September 4th. They issued an “overweight” rating and a $16.00 price target for the company. Wall Street Zen raised shares of Mach Natural Resources from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Northland Securities set a $17.00 target price on Mach Natural Resources in a research note on Monday, August 10th. Stifel Nicolaus assumed coverage on Mach Natural Resources in a research report on Thursday, September 10th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Citigroup reaffirmed an “outperform” rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $16.33.

Mach Natural Resources Stock Up 0.1%

The firm has a market cap of $1.71 billion, a P/E ratio of 17.38 and a beta of -0.21. The stock’s 50 day simple moving average is $12.30 and its 200 day simple moving average is $12.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88.

Mach Natural Resources Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were issued a dividend of $0.36 per share. This is a decrease from Mach Natural Resources’s previous quarterly dividend of $0.64. This represents a $1.44 dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date was Monday, August 17th. Mach Natural Resources’s dividend payout ratio is 244.07%.

Insider Activity

In other Mach Natural Resources news, Director William McMullen purchased 12,390 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average price of $11.30 per share, with a total value of $140,007.00. Following the transaction, the director owned 74,872,307 shares in the company, valued at $846,057,069.10. The trade was a 0.02% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Tom L. Ward purchased 172,413 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the transaction, the insider owned 13,467,452 shares in the company, valued at $156,222,443.20. This represents a 1.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 206,927 shares of company stock valued at $2,388,893. 87.80% of the stock is currently owned by insiders.

Institutional Trading of Mach Natural Resources

Institutional investors and hedge funds have recently modified their holdings of the stock. ING Groep NV lifted its holdings in shares of Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after purchasing an additional 191,000 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources during the second quarter worth $3,064,000. Tidal Investments LLC grew its holdings in Mach Natural Resources by 94.7% during the second quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after buying an additional 19,997 shares in the last quarter. Wedbush Securities Inc. raised its position 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 during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in Mach Natural Resources in the 2nd quarter valued at $253,000. 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 engaged in the acquisition, development, and production of oil, natural gas, and natural gas liquids. The company focuses on operated assets in the Anadarko Basin of Western Oklahoma, where it develops conventional and unconventional reserves.

Mach’s operations include drilling, completing, and producing wells, as well as managing related gathering and midstream infrastructure. Its production portfolio is centered on crude oil, natural gas, and natural gas liquids sold into regional and broader U.S.