Mach Natural Resources (NYSE:MNR) Reaches New 12-Month Low – What’s Next?

Mach Natural Resources LP (NYSE:MNR)’s share price hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $10.46 and last traded at $10.6090, with a volume of 138146 shares trading hands. The stock had previously closed at $10.48.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MNR shares. Zacks Research lowered shares of Mach Natural Resources from a “hold” rating to a “strong sell” rating in a research report on Monday, September 14th. Weiss Ratings downgraded shares of Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Northland Securities set a $17.00 target price on shares of Mach Natural Resources in a report on Monday, August 10th. Wall Street Zen upgraded Mach Natural Resources from a “hold” rating to a “buy” rating in a research note on Saturday, August 15th. Finally, Citigroup restated an “outperform” rating on shares of Mach Natural Resources in a research note on Monday, August 10th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.83.

Mach Natural Resources Price Performance

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 company has a market cap of $1.76 billion, a price-to-earnings ratio of 17.89 and a beta of -0.32. The business has a fifty day moving average price of $12.65 and a 200 day moving average price of $13.11.

Mach Natural Resources Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $1.44 annualized dividend and a yield of 13.6%. Mach Natural Resources’s payout ratio is presently 244.07%.

Insider Transactions at Mach Natural Resources

In related news, Director William McMullen purchased 22,124 shares of Mach Natural Resources stock in a transaction dated Tuesday, September 15th. The shares were bought at an average cost of $11.25 per share, for a total transaction of $248,895.00. Following the purchase, the director owned 22,124 shares in the company, valued at approximately $248,895. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Tom Ward purchased 172,413 shares of the firm’s stock in a transaction that occurred on Monday, September 14th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $1,999,990.80. Following the completion of the acquisition, the insider directly owned 13,467,452 shares in the company, valued at $156,222,443.20. The trade was a 1.30% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders bought 206,927 shares of company stock valued at $2,388,893 in the last three months. Company insiders own 87.80% of the company’s stock.

Institutional Trading of Mach Natural Resources

Hedge funds and other institutional investors have recently modified their holdings of the stock. ING Groep NV increased its holdings in shares of 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 buying an additional 191,000 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new stake in Mach Natural Resources during the 2nd quarter worth $3,064,000. Tidal Investments LLC grew its position in Mach Natural Resources by 94.7% during the 2nd quarter. Tidal Investments LLC now owns 41,112 shares of the company’s stock worth $520,000 after acquiring an additional 19,997 shares during the last quarter. Wedbush Securities Inc. increased its holdings in Mach Natural Resources by 3.2% in the 2nd quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after purchasing an additional 913 shares in the last quarter. Finally, Avior Wealth Management LLC bought a new position in Mach Natural Resources in the second quarter valued at about $253,000. 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.