Mach Natural Resources (NYSE:MNR) Sets New 52-Week Low – Here’s What Happened

Mach Natural Resources LP (NYSE:MNR) reached a new 52-week low during trading on Wednesday. The company traded as low as $10.12 and last traded at $10.1160, with a volume of 145,684 shares traded. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

MNR has been the subject of a number of recent analyst reports. Stifel Nicolaus began coverage on Mach Natural Resources in a report on Thursday, September 10th. They set a “buy” rating and a $15.00 price target for the company. Weiss Ratings cut Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Stephens set a $20.00 target price on Mach Natural Resources in a report on Monday, July 13th. 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 reaffirmed an “outperform” rating on shares of Mach Natural Resources in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Mach Natural Resources currently has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Mach Natural Resources Trading Down 3.0%

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 firm has a market cap of $1.68 billion, a price-to-earnings ratio of 17.03 and a beta of -0.23. The business’s fifty day moving average is $11.20 and its two-hundred day moving average is $12.62.

Mach Natural Resources Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 14.3%. The ex-dividend date was Monday, August 17th. This is a negative change from Mach Natural Resources’s previous quarterly dividend of $0.64. Mach Natural Resources’s dividend payout ratio is 244.07%.

Insider Buying and Selling at Mach Natural Resources

In other news, Director William McMullen bought 12,390 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $11.30 per share, with a total value of $140,007.00. Following the purchase, the director owned 74,872,307 shares of the company’s stock, valued at approximately $846,057,069.10. This represents a 0.02% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Tom Ward bought 172,413 shares of the company’s stock in a transaction dated Monday, September 14th. The shares were purchased at an average price of $11.60 per share, with a total value of $1,999,990.80. Following the transaction, the insider owned 13,467,452 shares of the company’s stock, valued at $156,222,443.20. The trade was a 1.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 206,927 shares of company stock valued at $2,388,893 over the last three months. Insiders own 87.80% of the company’s stock.

Institutional Trading of Mach Natural Resources

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNR. Chicago Partners Investment Group LLC lifted its position in Mach Natural Resources by 8.2% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 255,778 shares of the company’s stock valued at $2,780,000 after purchasing an additional 19,474 shares during the period. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Mach Natural Resources during the 2nd quarter worth approximately $3,064,000. Tidal Investments LLC grew its position 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 worth $520,000 after buying an additional 19,997 shares during the period. Novem Group grew its position in shares of Mach Natural Resources by 25.0% during the 3rd quarter. Novem Group now owns 30,000 shares of the company’s stock worth $307,000 after buying an additional 6,000 shares during the period. Finally, Wedbush Securities Inc. raised its stake in shares of Mach Natural Resources by 3.2% during the second quarter. Wedbush Securities Inc. now owns 29,167 shares of the company’s stock worth $369,000 after buying an additional 913 shares during the last quarter. 78.36% of the stock is owned by institutional investors.

Mach Natural Resources Company Profile

Mach Natural Resources LP is an independent oil and natural gas company focused on the acquisition, development and production of oil, natural gas and natural gas liquids. The company’s operations are concentrated in the Anadarko Basin of the Mid-Continent region.

Mach’s assets are primarily located in Western Oklahoma, with additional interests in surrounding areas of the Anadarko Basin, including parts of the Texas Panhandle and southern Kansas. Its activities include drilling and completing wells, operating producing properties and managing associated gathering and processing infrastructure.

The company was formed by Mach Resources and its affiliates and became a publicly traded limited partnership in 2023.