Mach Natural Resources (NYSE:MNR) Rating Lowered to Strong Sell at Zacks Research

Mach Natural Resources (NYSE:MNR) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Other equities analysts have also issued reports about the stock. Stephens set a $20.00 target price on shares of Mach Natural Resources in a report on Monday, July 13th. Capital One Financial initiated coverage on shares of Mach Natural Resources in a report on Friday, September 4th. They set an “overweight” rating and a $16.00 price target for the company. Northland Securities set a $17.00 price objective on shares of Mach Natural Resources in a research note on Monday, August 10th. Stifel Nicolaus initiated coverage on shares of Mach Natural Resources in a research report on Thursday, September 10th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Weiss Ratings upgraded Mach Natural Resources from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $16.83.

Mach Natural Resources Stock Down 10.5%

MNR stock opened at $11.18 on Monday. Mach Natural Resources has a 52 week low of $10.46 and a 52 week high of $15.02. The business has a 50-day simple moving average of $12.90 and a 200 day simple moving average of $13.20. The company has a quick ratio of 0.76, a current ratio of 0.88 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.87 billion, a PE ratio of 18.94 and a beta of -0.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC grew its holdings in shares of Mach Natural Resources by 94.7% during the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock valued at $520,000 after purchasing an additional 19,997 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Mach Natural Resources by 3.2% in the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock valued at $369,000 after purchasing an additional 913 shares during the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Mach Natural Resources in the 2nd quarter valued at approximately $3,064,000. Avior Wealth Management LLC acquired a new stake in Mach Natural Resources in the second quarter valued at approximately $253,000. Finally, Royal Bank of Canada boosted its position in Mach Natural Resources by 42.8% in the first quarter. Royal Bank of Canada now owns 13,882 shares of the company’s stock valued at $194,000 after buying an additional 4,164 shares in the last quarter. Institutional investors own 78.36% of the company’s stock.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and operation of producing properties in the Anadarko Basin of western Oklahoma. The company’s operations are concentrated in a resource-rich region with established infrastructure and long-standing oil and gas activity.

Mach Natural Resources’ production includes crude oil, natural gas and natural gas liquids. Its activities span the exploration and development of wells, production operations, and the management of related gathering and infrastructure assets.