Brokerages Set Mach Natural Resources LP (NYSE:MNR) PT at $17.50

Mach Natural Resources LP (NYSE:MNR) has earned an average rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $17.50.

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

Mach Natural Resources Stock Down 1.4%

MNR opened at $12.56 on Tuesday. Mach Natural Resources has a fifty-two week low of $10.46 and a fifty-two week high of $15.58. 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 company has a market capitalization of $2.11 billion, a P/E ratio of 16.31 and a beta of -0.32. The stock has a fifty day moving average of $13.40 and a 200-day moving average of $12.76.

Mach Natural Resources (NYSE:MNR) last posted its earnings results on Thursday, May 7th. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%.The company had revenue of $286.00 million during the quarter, compared to the consensus estimate of $397.61 million. On average, equities analysts expect that Mach Natural Resources will post 1.64 EPS for the current 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 paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a yield of 20.4%. This is a boost from Mach Natural Resources’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend was Thursday, May 21st. Mach Natural Resources’s payout ratio is presently 332.47%.

Insider Transactions at Mach Natural Resources

In related news, insider Tom L. Ward purchased 153,256 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was acquired at an average price of $13.05 per share, with a total value of $1,999,990.80. Following the completion of the purchase, the insider directly owned 13,295,039 shares in the company, valued at $173,500,258.95. This trade represents a 1.17% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder General Partner S.A R.L. Ikav sold 5,557,679 shares of the business’s stock in a transaction dated Wednesday, April 8th. The shares were sold at an average price of $12.81, for a total value of $71,193,867.99. Following the completion of the transaction, the insider directly 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 SEC filing for this sale provides additional information. 87.80% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kayne Anderson Capital Advisors LP acquired a new position in Mach Natural Resources during the third quarter worth about $252,892,000. ING Groep NV raised its stake in Mach Natural Resources by 23.1% during the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock worth $11,239,000 after acquiring an additional 191,000 shares in the last quarter. CIBC Bancorp USA Inc. acquired a new position in Mach Natural Resources during the third quarter worth about $7,926,000. Clear Street Group Inc. acquired a new position in Mach Natural Resources during the third quarter worth about $5,638,000. Finally, Zuckerman Investment Group LLC raised its stake in 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 acquiring an additional 5,000 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.