Mach Natural Resources LP (NYSE:MNR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Mach Natural Resources LP (NYSE:MNR) have been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the firm, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $17.50.

A number of research firms recently weighed in on MNR. Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Monday, May 18th. Truist Financial assumed coverage on shares of Mach Natural Resources in a research report on Tuesday, March 24th. They set a “hold” rating and a $14.00 price objective for the company. Wall Street Zen downgraded shares of Mach Natural Resources from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research downgraded Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 25th. Finally, Raymond James Financial reduced their price target on Mach Natural Resources from $20.00 to $18.00 and set a “strong-buy” rating on the stock in a research report on Thursday, June 18th.

Mach Natural Resources Stock Performance

MNR opened at $12.69 on Tuesday. Mach Natural Resources has a 52-week low of $10.46 and a 52-week high of $15.58. The firm has a market capitalization of $2.13 billion, a PE ratio of 16.47 and a beta of -0.32. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.83. The business’s 50-day simple moving average is $13.41 and its 200 day simple moving average is $12.76.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.23. The business had revenue of $286.00 million for the quarter, compared to analyst estimates of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. As a group, sell-side analysts expect that Mach Natural Resources will post 1.64 earnings per share for the current fiscal year.

Mach Natural Resources Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Investors of record on Thursday, May 21st were given a dividend of $0.64 per share. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.53. This represents a $2.56 dividend on an annualized basis and a yield of 20.2%. The ex-dividend date of this dividend was Thursday, May 21st. Mach Natural Resources’s dividend payout ratio (DPR) is currently 332.47%.

Insider Buying and Selling

In other Mach Natural Resources news, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the firm’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $12.81, for a total value of $71,193,867.99. Following the sale, the insider owned 4,259,110 shares of the company’s stock, valued at approximately $54,559,199.10. This trade represents a 56.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Tom L. Ward bought 153,256 shares of Mach Natural Resources stock in a transaction on Monday, April 13th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $1,999,990.80. Following the acquisition, the insider owned 13,295,039 shares in the company, valued at approximately $173,500,258.95. This represents a 1.17% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 87.80% of the company’s stock.

Institutional Investors Weigh In On Mach Natural Resources

A number of large investors have recently modified their holdings of MNR. Goldman Sachs Group Inc. boosted its holdings in shares of 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 purchasing an additional 2,084,511 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of Mach Natural Resources in the 2nd quarter valued at $7,630,000. Jane Street Group LLC acquired a new stake in shares of Mach Natural Resources in the 2nd quarter valued at $1,931,000. Cooksen Wealth LLC boosted its holdings in shares of Mach Natural Resources by 87.5% in the 2nd quarter. Cooksen Wealth LLC now owns 2,635 shares of the company’s stock valued at $38,000 after purchasing an additional 1,230 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in shares of Mach Natural Resources by 208.5% in the 2nd quarter. Osaic Holdings Inc. now owns 8,302 shares of the company’s stock valued at $120,000 after purchasing an additional 5,611 shares in the last quarter. Institutional investors and hedge funds own 78.36% of the company’s stock.

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.