Mach Natural Resources (NYSE:MNR) Earns Hold Rating from Analysts at Truist Financial

Truist Financial initiated coverage on shares of Mach Natural Resources (NYSE:MNR) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage issued a hold rating and a $14.00 price objective on the stock.

Other equities research analysts also recently issued reports about the company. Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Stifel Nicolaus reduced their price objective 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. Weiss Ratings raised Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 16th. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Monday, March 16th. Finally, KeyCorp restated a “sector weight” rating on shares of Mach Natural Resources in a research note on Friday, January 16th. Two investment analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Mach Natural Resources presently has a consensus rating of “Moderate Buy” and an average price target of $18.50.

Mach Natural Resources Price Performance

Shares of Mach Natural Resources stock opened at $14.21 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.05 and a quick ratio of 0.93. The company has a market cap of $2.39 billion, a PE ratio of 12.68 and a beta of -0.24. The firm has a fifty day moving average price of $12.78 and a two-hundred day moving average price of $12.35. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.91.

Mach Natural Resources (NYSE:MNR) last posted its quarterly earnings data on Thursday, March 12th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.17. The company had revenue of $387.54 million for the quarter, compared to the consensus estimate of $357.31 million. Mach Natural Resources had a net margin of 12.16% and a return on equity of 16.91%. Analysts expect that Mach Natural Resources will post 1.95 EPS for the current year.

Mach Natural Resources Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 12th. Investors of record on Thursday, February 26th were paid a $0.53 dividend. The ex-dividend date of this dividend was Thursday, February 26th. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.27. This represents a $2.12 dividend on an annualized basis and a yield of 14.9%. Mach Natural Resources’s payout ratio is presently 189.29%.

Insider Transactions at Mach Natural Resources

In other Mach Natural Resources news, Director William Wallace Mcmullen purchased 3,570 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average price of $14.00 per share, for a total transaction of $49,980.00. Following the completion of the purchase, the director directly owned 74,854,202 shares in the company, valued at approximately $1,047,958,828. This trade represents a 0.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought a total of 10,285 shares of company stock valued at $142,870 over the last three months. Corporate insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

Several large investors have recently modified their holdings of MNR. Kayne Anderson Capital Advisors LP bought a new position in shares of Mach Natural Resources during the 3rd quarter worth approximately $252,892,000. Goldman Sachs Group Inc. raised its stake in Mach Natural Resources by 120.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after acquiring an additional 2,084,511 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Mach Natural Resources during the third quarter worth $7,926,000. First Trust Advisors LP bought a new position in shares of Mach Natural Resources during the second quarter valued at $7,630,000. Finally, Clear Street Group Inc. bought a new position in shares of Mach Natural Resources during the third quarter valued at $5,638,000. 78.36% of the stock is currently owned by 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.