Mach Natural Resources LP (NYSE:MNR) Given Average Recommendation of “Moderate Buy” by Analysts

Mach Natural Resources LP (NYSE:MNR) has been assigned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $18.50.

Several analysts recently weighed in on the company. Wall Street Zen lowered Mach Natural Resources from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Truist Financial initiated coverage on Mach Natural Resources in a research note on Tuesday, March 24th. They set a “hold” rating and a $14.00 price target on the stock. Weiss Ratings lowered Mach Natural Resources from a “hold (c)” rating to a “hold (c-)” rating in a research note on Monday, May 18th. Finally, Zacks Research lowered Mach Natural Resources from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 25th.

Mach Natural Resources Stock Up 2.3%

Shares of NYSE MNR opened at $13.75 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.73 and a current ratio of 0.83. Mach Natural Resources has a 52 week low of $10.46 and a 52 week high of $15.60. The stock has a market capitalization of $2.31 billion, a P/E ratio of 17.85 and a beta of -0.32. The stock’s fifty day moving average is $13.60 and its 200 day moving average is $12.66.

Mach Natural Resources (NYSE:MNR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.23. The company had revenue of $286.00 million for the quarter, compared to analysts’ expectations of $397.61 million. Mach Natural Resources had a return on equity of 18.46% and a net margin of 7.46%. Sell-side analysts forecast that Mach Natural Resources will post 1.54 earnings per share for the current fiscal year.

Mach Natural Resources Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Stockholders of record on Thursday, May 21st were paid a dividend of $0.64 per share. The ex-dividend date of this dividend was Thursday, May 21st. This is a positive change from Mach Natural Resources’s previous quarterly dividend of $0.53. This represents a $2.56 dividend on an annualized basis and a dividend yield of 18.6%. Mach Natural Resources’s payout ratio is 332.47%.

Insider Buying and Selling

In other Mach Natural Resources news, insider Tom L. Ward bought 153,256 shares of the stock in a transaction on Monday, April 13th. The stock was acquired at an average cost of $13.05 per share, for a total transaction of $1,999,990.80. Following the completion of the acquisition, the insider owned 13,295,039 shares in the company, valued at $173,500,258.95. This trade represents a 1.17% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Wallace Mcmullen bought 3,570 shares of the stock in a transaction on Thursday, March 19th. The stock was acquired at an average price of $14.00 per share, with a total value of $49,980.00. Following the completion of the acquisition, the director owned 74,854,202 shares of the company’s stock, valued at $1,047,958,828. This represents a 0.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 163,541 shares of company stock valued at $2,142,861 over the last ninety days. 87.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mach Natural Resources

Hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Capital Advisors LP bought a new stake in Mach Natural Resources in the third quarter worth approximately $252,892,000. CIBC Bancorp USA Inc. bought a new stake in shares of Mach Natural Resources during the third quarter valued at approximately $7,926,000. ING Groep NV increased its holdings in shares of Mach Natural Resources by 85.4% during the third quarter. ING Groep NV now owns 827,000 shares of the company’s stock valued at $10,900,000 after acquiring an additional 381,000 shares in the last quarter. Clear Street Group Inc. bought a new stake in shares of Mach Natural Resources during the third quarter valued at approximately $5,638,000. Finally, Zuckerman Investment Group LLC increased its holdings in shares of Mach Natural Resources by 5.6% during the third quarter. Zuckerman Investment Group LLC now owns 95,000 shares of the company’s stock valued at $1,252,000 after acquiring an additional 5,000 shares in the last quarter. 78.36% of the stock is currently owned by institutional investors.

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.