Mach Natural Resources LP (NYSE:MNR) Stock Has Consensus Target Price of $16.67 According to Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have received an average rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $16.67.

A number of equities analysts have weighed in on MNR shares. Citigroup reiterated an “outperform” rating on shares of Mach Natural Resources in a research note on Monday, August 10th. 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. Zacks Research raised shares of Mach Natural Resources from a “strong sell” rating to a “hold” rating in a report on Monday, October 19th. 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 price objective for the company. Finally, Raymond James Financial lowered their target price on shares of Mach Natural Resources from $19.00 to $16.00 and set a “strong-buy” rating on the stock in a report on Tuesday, September 29th.

Mach Natural Resources Stock Performance

Shares of Mach Natural Resources stock opened at $10.59 on Monday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 17.95 and a beta of -0.23. Mach Natural Resources has a 52-week low of $10.15 and a 52-week high of $15.02. 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 stock’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $12.63.

Mach Natural Resources Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were issued a dividend of $0.36 per share. This is a negative change from Mach Natural Resources’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 dividend on an annualized basis and a yield of 13.6%. Mach Natural Resources’s payout ratio is currently 244.07%.

Insider Activity

In related news, insider Tom Ward bought 172,413 shares of Mach Natural Resources stock in a transaction on Monday, September 14th. The stock was acquired at an average price of $11.60 per share, with a total value of $1,999,990.80. Following the acquisition, the insider directly owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. This represents a 1.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William McMullen purchased 22,124 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were bought at an average price of $11.25 per share, for a total transaction of $248,895.00. Following the completion of the transaction, the director owned 22,124 shares of the company’s stock, valued at approximately $248,895. This trade represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders acquired 206,927 shares of company stock valued at $2,388,893. 87.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds have recently bought and sold shares of the company. Pin Oak Investment Advisors Inc. bought a new position in Mach Natural Resources in the 2nd quarter valued at $3,064,000. Avior Wealth Management LLC bought a new position in shares of Mach Natural Resources in the second quarter worth $253,000. Tidal Investments LLC increased its holdings in shares of Mach Natural Resources by 94.7% in the second quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after purchasing an additional 19,997 shares during the period. Chicago Partners Investment Group LLC increased its holdings in shares of Mach Natural Resources by 8.2% in the third quarter. Chicago Partners Investment Group LLC now owns 255,778 shares of the company’s stock worth $2,780,000 after purchasing an additional 19,474 shares during the period. Finally, Novem Group raised its position in shares of Mach Natural Resources by 25.0% in the third quarter. Novem Group now owns 30,000 shares of the company’s stock worth $307,000 after buying an additional 6,000 shares in the last quarter. Hedge funds and other 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 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.