Mach Natural Resources (NYSE:MNR) Stock Rating Raised to “Hold” 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 report report published on Monday morning,Zacks reports.

Several other equities analysts have also recently commented on MNR. Stephens set a $20.00 price objective on shares of Mach Natural Resources in a research note on Monday, July 13th. Weiss Ratings cut shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Raymond James Financial cut their price target on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating for the company in a report on Tuesday, September 29th. Finally, Capital One Financial assumed 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 for the company. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Mach Natural Resources currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Mach Natural Resources Price Performance

NYSE MNR opened at $10.76 on Monday. 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 company has a market cap of $1.80 billion, a PE ratio of 18.24 and a beta of -0.22. Mach Natural Resources has a 52 week low of $10.15 and a 52 week high of $15.02. The firm’s 50-day simple moving average is $11.63 and its two-hundred day simple moving average is $12.68.

Mach Natural Resources Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.36 dividend. This is a drop from Mach Natural Resources’s previous quarterly dividend of $0.64. This represents a $1.44 dividend on an annualized basis and a yield of 13.4%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s payout ratio is currently 244.07%.

Insider Transactions at Mach Natural Resources

In other news, insider Tom L. Ward acquired 172,413 shares of the business’s stock in a transaction dated Monday, September 14th. The stock was purchased at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. This trade represents a 1.30% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William McMullen acquired 12,390 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was purchased at an average price of $11.30 per share, with a total value of $140,007.00. Following the completion of the acquisition, the director directly owned 74,872,307 shares in the company, valued at approximately $846,057,069.10. This represents a 0.02% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 206,927 shares of company stock worth $2,388,893 in the last 90 days. Company insiders own 87.80% of the company’s stock.

Hedge Funds Weigh In On Mach Natural Resources

A number of large investors have recently modified their holdings of the company. CENTRAL TRUST Co boosted its stake in Mach Natural Resources by 384.7% in the first quarter. CENTRAL TRUST Co now owns 4,992 shares of the company’s stock worth $70,000 after buying an additional 3,962 shares in the last quarter. Royal Bank of Canada grew its position in Mach Natural Resources by 42.8% during the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after acquiring an additional 4,164 shares during the last quarter. Avior Wealth Management LLC bought a new position in Mach Natural Resources during the second quarter valued at approximately $253,000. Wedbush Securities Inc. grew its position in Mach Natural Resources by 3.2% during the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after acquiring an additional 913 shares during the last quarter. Finally, Novem Group raised its stake in shares of Mach Natural Resources by 25.0% during the third quarter. Novem Group now owns 30,000 shares of the company’s stock worth $307,000 after acquiring an additional 6,000 shares in the last quarter. 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 focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.