Mach Natural Resources (NYSE:MNR) Downgraded by Zacks Research to Strong Sell

Mach Natural Resources (NYSE:MNR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Northland Securities set a $20.00 price target on Mach Natural Resources in a report on Monday, November 10th. Northland Capmk upgraded Mach Natural Resources to a “strong-buy” rating in a research report on Monday, October 13th. Stifel Nicolaus dropped their price target on Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, January 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mach Natural Resources in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.00.

Mach Natural Resources Price Performance

Mach Natural Resources stock opened at $10.96 on Tuesday. The company has a market cap of $1.85 billion, a P/E ratio of 11.41 and a beta of -0.07. Mach Natural Resources has a one year low of $10.46 and a one year high of $19.00. The business has a fifty day moving average of $11.57 and a two-hundred day moving average of $12.98. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.87 and a current ratio of 1.00.

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

Institutional Investors Weigh In On Mach Natural Resources

A number of hedge funds and other institutional investors have recently modified their holdings of MNR. CIBC Bancorp USA Inc. acquired a new position in shares of Mach Natural Resources in the third quarter valued at approximately $7,926,000. Pin Oak Investment Advisors Inc. grew its stake in Mach Natural Resources by 8.8% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 236,702 shares of the company’s stock worth $3,120,000 after acquiring an additional 19,203 shares during the period. Clear Street Group Inc. acquired a new position in Mach Natural Resources in the 3rd quarter valued at $5,638,000. Raymond James Financial Inc. lifted its stake in shares of Mach Natural Resources by 22.9% during the 3rd quarter. Raymond James Financial Inc. now owns 376,757 shares of the company’s stock worth $4,966,000 after purchasing an additional 70,180 shares during the period. Finally, Zuckerman Investment Group LLC boosted its holdings in shares of Mach Natural Resources by 5.6% during the third quarter. Zuckerman Investment Group LLC now owns 95,000 shares of the company’s stock worth $1,252,000 after purchasing an additional 5,000 shares during the last quarter. 78.36% of the stock is currently owned by hedge funds and other institutional investors.

Mach Natural Resources Company Profile

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.