Mach Natural Resources LP (NYSE:MNR) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Mach Natural Resources LP (NYSE:MNR) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $22.25.

Several equities analysts have issued reports on MNR shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mach Natural Resources in a report on Monday, December 29th. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Northland Securities set a $20.00 price target on Mach Natural Resources in a research report on Monday, November 10th. Finally, Northland Capmk upgraded Mach Natural Resources to a “strong-buy” rating in a research note on Monday, October 13th.

Mach Natural Resources Trading Down 0.3%

NYSE:MNR opened at $11.21 on Tuesday. Mach Natural Resources has a 1 year low of $10.89 and a 1 year high of $19.00. The stock has a market cap of $1.89 billion, a P/E ratio of 11.68 and a beta of -0.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.00. The stock has a 50-day simple moving average of $11.73 and a 200-day simple moving average of $13.15.

Mach Natural Resources (NYSE:MNR) last posted its earnings results on Thursday, November 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.10. Mach Natural Resources had a return on equity of 19.47% and a net margin of 10.40%.The firm had revenue of $272.56 million during the quarter, compared to analysts’ expectations of $243.65 million. As a group, analysts anticipate that Mach Natural Resources will post 1.95 earnings per share for the current fiscal year.

Mach Natural Resources Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Investors of record on Thursday, November 20th were paid a dividend of $0.27 per share. The ex-dividend date was Thursday, November 20th. This represents a $1.08 dividend on an annualized basis and a yield of 9.6%. Mach Natural Resources’s dividend payout ratio is currently 112.50%.

Hedge Funds Weigh In On Mach Natural Resources

Institutional investors have recently added to or reduced their stakes in the stock. Kayne Anderson Capital Advisors LP purchased a new position in shares of Mach Natural Resources in the 3rd quarter valued at approximately $252,892,000. Goldman Sachs Group Inc. grew its position in Mach Natural Resources by 120.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock valued at $59,320,000 after buying an additional 2,084,511 shares during the last quarter. American Century Companies Inc. increased its stake in Mach Natural Resources by 4.1% in the 2nd quarter. American Century Companies Inc. now owns 2,578,929 shares of the company’s stock valued at $37,240,000 after buying an additional 100,574 shares during the period. ING Groep NV raised its position in Mach Natural Resources by 85.4% during the 3rd quarter. ING Groep NV now owns 827,000 shares of the company’s stock worth $10,900,000 after buying an additional 381,000 shares during the last quarter. Finally, CIBC Bancorp USA Inc. purchased a new position in Mach Natural Resources during the 3rd quarter worth $7,926,000. Institutional investors and hedge funds own 78.36% of the company’s stock.

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.