Mach Natural Resources (NYSE:MNR) Earns Overweight Rating from Analysts at Capital One Financial

Capital One Financial initiated coverage on shares of Mach Natural Resources (NYSE:MNR) in a research note published on Friday morning, MarketBeat Ratings reports. The brokerage issued an overweight rating and a $16.00 price objective on the stock.

Several other equities analysts also recently weighed in on the company. Raymond James Financial boosted their price target on Mach Natural Resources from $18.00 to $19.00 and gave the stock a “strong-buy” rating in a report on Tuesday, July 14th. Wall Street Zen raised Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Weiss Ratings raised Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Zacks Research upgraded Mach Natural Resources from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 11th. Finally, Stephens set a $20.00 target price on shares of Mach Natural Resources in a research note on Monday, July 13th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Mach Natural Resources currently has an average rating of “Moderate Buy” and an average target price of $17.33.

Mach Natural Resources Price Performance

MNR stock opened at $12.59 on Friday. Mach Natural Resources has a 1 year low of $10.46 and a 1 year high of $15.02. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.88. The stock’s 50 day moving average price is $12.93 and its 200 day moving average price is $13.25. The firm has a market cap of $2.10 billion, a P/E ratio of 21.34 and a beta of -0.32.

Mach Natural Resources Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend was Monday, August 17th. Mach Natural Resources’s payout ratio is 244.07%.

Hedge Funds Weigh In On Mach Natural Resources

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its position in Mach Natural Resources by 120.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,814,782 shares of the company’s stock worth $59,320,000 after purchasing an additional 2,084,511 shares in the last quarter. ING Groep NV raised its holdings in Mach Natural Resources by 23.1% in the fourth quarter. ING Groep NV now owns 1,018,000 shares of the company’s stock valued at $11,239,000 after buying an additional 191,000 shares during the period. First Trust Advisors LP raised its holdings in Mach Natural Resources by 19.7% in the fourth quarter. First Trust Advisors LP now owns 539,012 shares of the company’s stock valued at $5,951,000 after buying an additional 88,590 shares during the period. Raymond James Financial Inc. lifted its position in Mach Natural Resources by 22.9% during the third quarter. Raymond James Financial Inc. now owns 376,757 shares of the company’s stock valued at $4,966,000 after buying an additional 70,180 shares in the last quarter. Finally, &PARTNERS lifted its position in Mach Natural Resources by 454.1% during the fourth quarter. &PARTNERS now owns 270,833 shares of the company’s stock valued at $2,980,000 after buying an additional 221,958 shares in the last quarter. 78.36% of the stock is owned by institutional investors and hedge funds.

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.