Mach Natural Resources (NYSE:MNR) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Mach Natural Resources (NYSE:MNR) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning,Zacks.com reports.

Several other equities analysts have also commented on MNR. Truist Financial initiated coverage on shares of Mach Natural Resources in a report on Tuesday, March 24th. They issued a “hold” rating and a $14.00 target price on the stock. Stifel Nicolaus decreased their target price on shares of Mach Natural Resources from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. KeyCorp reissued a “sector weight” rating on shares of Mach Natural Resources in a report on Friday, January 16th. Weiss Ratings raised shares of Mach Natural Resources from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 16th. Finally, Wall Street Zen raised shares of Mach Natural Resources from a “buy” rating to a “strong-buy” rating in a report on Saturday, April 4th. Three analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $18.50.

Mach Natural Resources Price Performance

MNR stock traded up $0.12 during mid-day trading on Monday, hitting $13.02. The stock had a trading volume of 184,529 shares, compared to its average volume of 584,619. The company has a current ratio of 1.05, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Mach Natural Resources has a 52 week low of $10.46 and a 52 week high of $15.60. The firm has a market capitalization of $2.19 billion, a P/E ratio of 11.63 and a beta of -0.35. The firm has a fifty day simple moving average of $13.35 and a 200 day simple moving average of $12.32.

Mach Natural Resources (NYSE:MNR) last released its earnings results on Thursday, March 12th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.26 by $0.17. Mach Natural Resources had a net margin of 12.16% and a return on equity of 16.91%. The firm had revenue of $387.54 million for the quarter, compared to analyst estimates of $357.31 million. As a group, research analysts forecast that Mach Natural Resources will post 1.72 EPS for the current year.

Mach Natural Resources Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 12th. Stockholders of record on Thursday, February 26th were paid a $0.53 dividend. The ex-dividend date was Thursday, February 26th. This represents a $2.12 annualized dividend and a dividend yield of 16.3%. This is an increase from Mach Natural Resources’s previous quarterly dividend of $0.27. Mach Natural Resources’s dividend payout ratio (DPR) is presently 189.29%.

Insider Activity

In related news, Director William Wallace Mcmullen acquired 3,215 shares of the stock in a transaction dated Monday, March 23rd. The stock was bought at an average price of $13.63 per share, for a total transaction of $43,820.45. Following the purchase, the director directly owned 74,859,917 shares of the company’s stock, valued at $1,020,340,668.71. The trade was a 0.00% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of Mach Natural Resources stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total transaction of $71,193,867.99. Following the completion of the sale, the insider owned 4,259,110 shares of the company’s stock, valued at $54,559,199.10. This represents a 56.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders purchased 163,541 shares of company stock worth $2,142,861 in the last quarter. 87.80% of the stock is owned by corporate insiders.

Institutional Trading of Mach Natural Resources

A number of hedge funds and other institutional investors have recently bought and sold shares of MNR. Cooksen Wealth LLC grew its stake 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 worth $38,000 after acquiring an additional 1,230 shares in the last quarter. Arrow Investment Advisors LLC grew its stake in shares of Mach Natural Resources by 12.9% in the 3rd quarter. Arrow Investment Advisors LLC now owns 12,216 shares of the company’s stock worth $161,000 after acquiring an additional 1,400 shares in the last quarter. CWM LLC bought a new stake in shares of Mach Natural Resources in the 3rd quarter worth $27,000. Hilton Head Capital Partners LLC bought a new stake in shares of Mach Natural Resources in the 4th quarter worth $31,000. Finally, Stifel Financial Corp grew its stake in shares of Mach Natural Resources by 1.5% in the 4th quarter. Stifel Financial Corp now owns 231,999 shares of the company’s stock worth $2,561,000 after acquiring an additional 3,472 shares in the last quarter. Institutional investors 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.